Greystone Financial Group LLC Makes New $6.23 Million Investment in Target Co. (NYSE:TGT)

Greystone Financial Group LLC acquired a new position in Target Co. (NYSE:TGT) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 39,940 shares of the retailer’s stock, valued at approximately $6,225,000.

A number of other hedge funds also recently modified their holdings of the company. Washington Trust Advisors Inc. raised its position in Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. raised its position in Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after purchasing an additional 68 shares during the last quarter. Beacon Capital Management LLC raised its position in Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares during the last quarter. Integral Investment Advisors Inc. raised its position in Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in Target by 0.4% in the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Daiwa America upgraded Target to a “strong-buy” rating in a research report on Monday, August 26th. Jefferies Financial Group increased their price target on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler started coverage on Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Insiders Place Their Bets

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The shares were 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 directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was 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 the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 in the company, valued at $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 over the last three months. Insiders own 0.23% of the company’s stock.

Target Trading Down 0.8 %

Shares of TGT opened at $148.04 on Thursday. The business’s 50-day moving average price is $153.07 and its 200-day moving average price is $152.23. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The stock has a market cap of $68.49 billion, a PE ratio of 16.62, a P/E/G 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) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (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 net margin of 4.18% and a return on equity of 33.10%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.80 earnings per share. On average, equities analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

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.