NorthRock Partners LLC Sells 41,477 Shares of Target Co. (NYSE:TGT)

NorthRock Partners LLC cut its stake in shares of Target Co. (NYSE:TGT) by 35.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,812 shares of the retailer’s stock after selling 41,477 shares during the quarter. Target makes up 1.0% of NorthRock Partners LLC’s portfolio, making the stock its 18th largest holding. NorthRock Partners LLC’s holdings in Target were worth $11,972,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. International Assets Investment Management LLC grew its holdings in shares of Target by 9,940.6% during the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after purchasing an additional 1,981,458 shares during the last quarter. Boston Partners bought a new stake in Target during the 1st quarter worth about $335,870,000. AQR Capital Management LLC increased its position in Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after acquiring an additional 768,479 shares in the last quarter. Swedbank AB bought a new position in shares of Target in the first quarter worth about $107,367,000. Finally, Clearbridge Investments LLC lifted its position in shares of Target by 17.5% during the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after purchasing an additional 470,647 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target 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 of the company’s stock, valued at approximately $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 three months, insiders have sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.15% of the company’s stock.

Target Stock Up 0.4 %

Shares of TGT traded up $0.61 during midday trading on Tuesday, hitting $150.60. The stock had a trading volume of 101,856 shares, compared to its average volume of 3,900,315. The firm has a market cap of $69.38 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. The company has a 50 day simple moving average of $152.86 and a two-hundred day simple moving average of $151.11. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the firm earned $1.80 EPS. Target’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Target Co. will post 9.54 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 46.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer dropped their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Citigroup boosted their target price on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm raised their price target on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Truist Financial boosted their price objective on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Jefferies Financial Group raised their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have given 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, Target currently has a consensus rating of “Moderate Buy” and an average 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.