Palumbo Wealth Management LLC lifted its position in Target Co. (NYSE:TGT – Free Report) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,300 shares of the retailer’s stock after acquiring an additional 876 shares during the period. Palumbo Wealth Management LLC’s holdings in Target were worth $1,449,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in TGT. Washington Trust Advisors Inc. raised its holdings in Target by 56.1% in 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 in the last quarter. Financial Advocates Investment Management increased its holdings in shares of Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after acquiring an additional 67 shares in the last quarter. Williams Jones Wealth Management LLC. increased its holdings in shares of Target by 0.6% during the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after acquiring an additional 68 shares in the last quarter. Beacon Capital Management LLC increased its holdings in shares of Target by 20.8% during the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares in the last quarter. Finally, Integral Investment Advisors Inc. increased its holdings in shares of Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.
Wall Street Analyst Weigh In
TGT has been the topic of several recent analyst reports. Roth Mkm increased their price objective on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their price objective on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial raised their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler initiated coverage on Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price on the stock. Finally, Bank of America raised their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Target presently has an average rating of “Moderate Buy” and a consensus target price of $179.47.
Target Price Performance
Shares of Target stock traded up $0.10 during mid-day trading on Thursday, reaching $148.62. 293,888 shares of the stock traded hands, compared to its average volume of 3,914,157. The business has a 50-day moving average of $153.33 and a 200 day moving average of $151.51. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86. The stock has a market capitalization of $68.47 billion, a PE ratio of 15.34, a PEG ratio of 1.99 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.
Target (NYSE:TGT – Get Free Report) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Target Co. will post 9.53 EPS for the current year.
Target Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.01%. Target’s dividend payout ratio is presently 46.28%.
Insider Activity at Target
In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the firm’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 directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is currently owned by insiders.
About Target
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.
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