Target Co. (NYSE:TGT) Stock Holdings Lowered by Palouse Capital Management Inc.

Palouse Capital Management Inc. lowered its stake in Target Co. (NYSE:TGT) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,313 shares of the retailer’s stock after selling 686 shares during the quarter. Target comprises about 2.3% of Palouse Capital Management Inc.’s portfolio, making the stock its 15th biggest holding. Palouse Capital Management Inc.’s holdings in Target were worth $3,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Little House Capital LLC bought a new position in Target during the 1st quarter valued at $1,041,000. Nordea Investment Management AB boosted its stake in Target by 23.6% during the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after buying an additional 122,706 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Target by 11.4% during the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after acquiring an additional 6,690 shares during the period. Janney Capital Management LLC bought a new stake in Target in the first quarter worth about $13,958,000. Finally, Wellington Management Group LLP lifted its holdings in Target by 864.4% in the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after acquiring an additional 51,639 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’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 directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. 0.23% of the stock is currently owned by insiders.

Target Price Performance

Shares of TGT stock traded down $6.63 during trading hours on Monday, hitting $150.21. The company had a trading volume of 2,474,870 shares, compared to its average volume of 3,949,607. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm’s fifty day moving average is $152.25 and its 200 day moving average is $152.57. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The firm has a market capitalization of $69.49 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $1.80 EPS. On average, sell-side analysts predict that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.98%. Target’s dividend payout ratio is 50.28%.

Analyst Upgrades and Downgrades

TGT has been the topic of several recent research reports. Stifel Nicolaus lifted their price objective on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Melius Research assumed coverage on Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective for the company. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. Finally, Piper Sandler assumed coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.69.

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.