Galibier Capital Management Ltd. Sells 3,396 Shares of Target Co. (NYSE:TGT)

Galibier Capital Management Ltd. lowered its holdings in Target Co. (NYSE:TGT) by 49.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,528 shares of the retailer’s stock after selling 3,396 shares during the quarter. Galibier Capital Management Ltd.’s holdings in Target were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Trajan Wealth LLC boosted its position in Target by 15.6% during the third quarter. Trajan Wealth LLC now owns 52,650 shares of the retailer’s stock valued at $8,206,000 after buying an additional 7,093 shares during the period. Mutual Advisors LLC increased its position in Target by 16.4% during the 3rd quarter. Mutual Advisors LLC now owns 21,386 shares of the retailer’s stock valued at $3,212,000 after purchasing an additional 3,014 shares during the period. Avitas Wealth Management LLC raised its holdings in Target by 1.2% in the 3rd quarter. Avitas Wealth Management LLC now owns 29,551 shares of the retailer’s stock worth $4,606,000 after purchasing an additional 347 shares in the last quarter. Fidelis Capital Partners LLC increased its position in shares of Target by 15.5% during the third quarter. Fidelis Capital Partners LLC now owns 5,639 shares of the retailer’s stock valued at $835,000 after buying an additional 755 shares during the period. Finally, Abich Financial Wealth Management LLC raised its stake in Target by 19.4% in the third quarter. Abich Financial Wealth Management LLC now owns 1,505 shares of the retailer’s stock worth $235,000 after buying an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.2 %

NYSE TGT traded up $0.34 on Wednesday, hitting $148.27. The stock had a trading volume of 132,459 shares, compared to its average volume of 3,920,025. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The business’s fifty day moving average price is $153.55 and its 200 day moving average price is $151.53. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market cap of $68.30 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the previous year, the business earned $1.80 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced 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 3.02%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 46.28%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock worth $8,290,995 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TGT. Roth Mkm upped their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their target price on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Sanford C. Bernstein assumed coverage on shares of Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target for the company. Finally, 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 report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.47.

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.