Certuity LLC sells 5,089 shares of Target Co. (NYSE: TGT)

VaselineSeptember 9, 2024

0 4 minutes read

Certuity LLC sells 5,089 shares of Target Co. (NYSE: TGT)

Target logo Certuity LLC reduced its holdings in Target Co. (NYSE:TGT – Free Report) by 70.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,099 shares of the retailer’s stock after selling 5,089 shares during the period. Certuity LLC’s holdings in Target were worth $311,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in Target in the second quarter valued at $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target in the 4th quarter valued at approximately $28,000. Slocum Gordon & Co LLP bought a new position in Target in the second quarter valued at approximately $28,000. Private Wealth Management Group LLC acquired a new stake in Target in the fourth quarter valued at about $29,000. Finally, Scarborough Advisors LLC bought a new stake in Target in the fourth quarter valued at approximately $29,000. 79.73% of shares are held by institutional investors.

Target stock down 0.4%

Shares of NYSE TGT stock opened at $151.28 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.27, and a debt-to-equity ratio of 0.95. The company has a 50-day moving average of $147.63 and a 200-day moving average of $155.14. The firm has a market cap of $69.99 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.99 and a beta of 1.24. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

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Target (NYSE:TGT – Get Your Free Report ) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. In the same quarter last year, the company earned $1.80 EPS. Sell-side analysts expect that Target Co. to post 9.49 earnings per share for the current fiscal year.

Target increases dividends

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $1.12 dividend. This represents a dividend of $4.48 on an annualized basis and a yield of 2.96%. The ex-dividend date is Wednesday, August 21. That’s a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 50.28%.

Insiders place their bets

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s shares.

The Wall Street analyst weighs in

A number of research analysts recently weighed in on TGT shares. Stifel Nicolaus boosted their target price on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Telsey Advisory Group upped their price objective on Target from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Jefferies Financial Group upped their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Finally, Wells Fargo & Company lifted their price objective on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and an average price target of $179.68, according to MarketBeat.

Get the latest research report on TGT

Profile of the target company

(Free report)

Target Corporation operates as a general merchandise distributor in the United States. The company offers clothing 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.