Target Co. (NYSE:TGT) Shares Sold by Core Alternative Capital

Core Alternative Capital reduced its holdings in Target Co. (NYSE:TGT) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,331 shares of the retailer’s stock after selling 163 shares during the period. Core Alternative Capital’s holdings in Target were worth $5,082,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Target by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock valued at $6,401,142,000 after buying an additional 417,818 shares during the last quarter. Legal & General Group Plc raised its position in Target by 6.8% during the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after acquiring an additional 279,656 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Target by 11.4% in the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the period. Clearbridge Investments LLC boosted its position in Target by 17.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after purchasing an additional 470,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Target by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after purchasing an additional 435,229 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BNP Paribas started coverage on shares of Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price for the company. Truist Financial upped their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised their target price on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. UBS Group upped their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, TD Cowen raised their price objective on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Target currently has an average rating of “Moderate Buy” and an average price target of $179.69.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s 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 directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Target Price Performance

Shares of TGT opened at $155.18 on Monday. The firm has a 50-day simple moving average of $148.75 and a two-hundred day simple moving average of $154.39. The stock has a market cap of $71.79 billion, a PE ratio of 17.42, a P/E/G ratio of 2.00 and a beta of 1.24. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) 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 company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 earnings per share. As a group, analysts forecast that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

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 given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Target Company 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.