Farmers & Merchants Investments Inc. Sells 561 Shares of Target Co. (NYSE:TGT)

29 Oct 2024, 15:45 by Mitch Edgeman · The Markets Daily

Farmers & Merchants Investments Inc. reduced its stake in shares of Target Co. (NYSE:TGT – Free Report) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 58,484 shares of the retailer’s stock after selling 561 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Target were worth $9,115,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Triad Wealth Partners LLC acquired a new position in shares of Target in the 2nd quarter valued at approximately $25,000. Slocum Gordon & Co LLP bought a new position in Target in the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC acquired a new position in Target during the second quarter valued at approximately $31,000. Washington Trust Advisors Inc. lifted its stake in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price target on shares of Target in a report on Thursday, September 19th. Stifel Nicolaus boosted their target price on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein assumed coverage on shares of Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target on the stock. Melius Research assumed coverage on shares of Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective for the company. Finally, Roth Mkm raised their target price on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Get Our Latest Stock Report on TGT

Target Stock Performance

Shares of NYSE TGT traded down $0.28 during trading on Tuesday, reaching $149.02. 257,081 shares of the stock traded hands, compared to its average volume of 3,925,591. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market capitalization of $68.94 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The company has a 50-day moving average of $153.48 and a 200-day moving average of $151.66.

Target (NYSE:TGT – Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 earnings per share. Analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.01%. Target’s dividend payout ratio (DPR) is 50.28%.

Target Company Profile

(Free Report)

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.