Target Co. (NYSE:TGT) Stock Position Raised by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its position in Target Co. (NYSE:TGT) by 2.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,878 shares of the retailer’s stock after buying an additional 888 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Target were worth $5,822,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC bought a new stake in Target in the second quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted 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. Slocum Gordon & Co LLP bought a new stake in Target in the second quarter worth $28,000. Retirement Group LLC increased its position in Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after buying an additional 91 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Target during the second quarter valued at about $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

NYSE:TGT opened at $148.50 on Thursday. The company has a market capitalization of $68.41 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.99 and a beta of 1.24. The company has a 50-day moving average of $153.33 and a 200-day moving average of $151.51. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

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

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.02%. Target’s dividend payout ratio is 46.28%.

Insider Buying and Selling

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 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. The trade was 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 hyperlink. In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 in the last three months. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TGT shares. Piper Sandler started coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target for the company. JPMorgan Chase & Co. upped their target price on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Finally, UBS Group lifted their target price on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.