Shepherd Financial Partners LLC Sells 2,630 Shares of Target Corporation (NYSE:TGT)

Shepherd Financial Partners LLC decreased its holdings in Target Corporation (NYSE:TGT) by 48.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,792 shares of the retailer’s stock after selling 2,630 shares during the period. Shepherd Financial Partners LLC’s holdings in Target were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TGT. Clarius Group LLC increased its holdings in shares of Target by 22.1% in the 1st quarter. Clarius Group LLC now owns 4,111 shares of the retailer’s stock valued at $429,000 after acquiring an additional 743 shares during the period. Prosperity Wealth Management Inc. purchased a new position in Target during the 1st quarter worth $243,000. Robertson Stephens Wealth Management LLC grew its position in Target by 7.0% during the 1st quarter. Robertson Stephens Wealth Management LLC now owns 5,593 shares of the retailer’s stock worth $584,000 after purchasing an additional 365 shares during the last quarter. Inscription Capital LLC acquired a new position in shares of Target in the first quarter valued at about $1,661,000. Finally, Signature Wealth Management Group raised its position in Target by 12.8% during the 1st quarter. Signature Wealth Management Group now owns 28,527 shares of the retailer’s stock worth $2,977,000 after buying an additional 3,243 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TGT. JPMorgan Chase & Co. upped their price target on shares of Target from $105.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Robert W. Baird set a $100.00 target price on Target in a research note on Thursday, May 22nd. DA Davidson decreased their price target on shares of Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Piper Sandler set a $94.00 price objective on Target and gave the company a “neutral” rating in a report on Thursday, May 22nd. Finally, Bank of America cut Target from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $105.00 in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Target currently has a consensus rating of “Hold” and an average price target of $116.70.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Target Price Performance

TGT stock opened at $95.22 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $43.26 billion, a PE ratio of 10.46, a P/E/G ratio of 2.73 and a beta of 1.22. The business’s fifty day moving average price is $95.56 and its 200 day moving average price is $114.51. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 EPS. On average, sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.70%. Target’s payout ratio is 49.23%.

Target Profile

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.