Virginia Wealth Management Group Inc. Cuts Stock Holdings in Target Co. (NYSE:TGT)

Virginia Wealth Management Group Inc. decreased its stake in shares of Target Co. (NYSE:TGT) by 4.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 33,933 shares of the retailer’s stock after selling 1,532 shares during the period. Target makes up about 2.2% of Virginia Wealth Management Group Inc.’s portfolio, making the stock its 27th largest position. Virginia Wealth Management Group Inc.’s holdings in Target were worth $3,541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TGT. Hopwood Financial Services Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. purchased a new position in Target in the fourth quarter worth $29,000. Legacy Investment Solutions LLC boosted its position in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the last quarter. OFI Invest Asset Management purchased a new position in Target in the fourth quarter worth $36,000. Finally, Heck Capital Advisors LLC purchased a new position in Target in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider now owns 246,453 shares of the company’s stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TGT shares. Jefferies Financial Group cut their price objective on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. The Goldman Sachs Group cut their price objective on Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on Target in a research report on Thursday, May 22nd. Morgan Stanley cut their price objective on Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Finally, UBS Group cut their price objective on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. One 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $116.70.

Target Stock Performance

Target stock opened at $100.72 on Wednesday. The firm’s 50 day simple moving average is $95.20 and its 200 day simple moving average is $115.78. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $45.76 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT) last posted its earnings results 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). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same period last year, the company posted $2.03 EPS. The business’s revenue was down 2.8% on a year-over-year basis. As a group, analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

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.