Graypoint LLC Lowers Position in Target Co. (NYSE:TGT)

Graypoint LLC trimmed its position in shares of Target Co. (NYSE:TGT) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,855 shares of the retailer’s stock after selling 101 shares during the quarter. Graypoint LLC’s holdings in Target were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new stake in Target in the 2nd quarter worth about $25,000. Washington Trust Advisors Inc. boosted its stake in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Slocum Gordon & Co LLP bought a new position in shares of Target in the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Target during the second quarter valued at approximately $31,000. Finally, Wolff Wiese Magana LLC lifted its holdings in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

TGT has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. UBS Group increased their price target on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm lifted their price objective on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Thursday, September 19th. Finally, Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Target Price Performance

NYSE:TGT opened at $149.79 on Friday. The firm has a market capitalization of $69.00 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The stock has a fifty day moving average of $152.39 and a 200 day moving average of $150.84. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.80 earnings per share. On average, research analysts expect that Target Co. will post 9.54 EPS for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 46.28%.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.15% of the company’s stock.

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.