Target Co. (NYSE:TGT) Shares Sold by Alerus Financial NA

Alerus Financial NA cut its holdings in Target Co. (NYSE:TGT) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,876 shares of the retailer’s stock after selling 1,468 shares during the quarter. Alerus Financial NA’s holdings in Target were worth $5,280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC purchased a new stake in shares of Target during the second quarter worth about $25,000. Slocum Gordon & Co LLP purchased a new position in Target in the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new stake in Target in the 2nd quarter worth about $31,000. Wolff Wiese Magana LLC increased its stake in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Target during the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity

In other Target news, 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 sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TGT. Royal Bank of Canada boosted their price target on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Truist Financial upped their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Sanford C. Bernstein began coverage on shares of Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target on the stock. Citigroup cut shares of Target from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $188.00 to $130.00 in a research note on Wednesday, November 20th. Finally, UBS Group raised their target price on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $160.30.

Target Price Performance

TGT opened at $132.31 on Friday. The firm has a market cap of $60.95 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 2.17 and a beta of 1.24. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock’s 50-day moving average price is $148.86 and its 200 day moving average price is $148.51. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same period in the prior year, the company posted $2.10 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts expect that Target Co. will post 8.6 earnings per share for the current 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 given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 47.51%.

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.