Target Co. (NYSE:TGT) Shares Sold by Miramar Capital LLC

Miramar Capital LLC decreased its holdings in Target Co. (NYSE:TGT) by 26.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,969 shares of the retailer’s stock after selling 21,225 shares during the quarter. Target comprises about 2.1% of Miramar Capital LLC’s portfolio, making the stock its 26th biggest position. Miramar Capital LLC’s holdings in Target were worth $9,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 valued at $311,937,000 after buying an additional 1,981,458 shares during the last quarter. Boston Partners acquired a new stake in Target during the 1st quarter worth about $335,870,000. AQR Capital Management LLC grew its stake in Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after purchasing an additional 768,479 shares during the last quarter. Swedbank AB acquired a new position in shares of Target in the first quarter valued at about $107,367,000. Finally, Clearbridge Investments LLC lifted its holdings 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 during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the topic of several research reports. Oppenheimer cut their price target on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. Jefferies Financial Group boosted their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Truist Financial boosted their price objective on Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. One equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.47.

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on 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 $48,210,768.81. This represents a 12.90 % 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 valued at $8,290,995. Company insiders own 0.15% of the company’s stock.

Target Price Performance

Target stock opened at $152.16 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The stock has a market cap of $70.10 billion, a P/E ratio of 15.72, a PEG ratio of 2.00 and a beta of 1.24. The company has a 50-day moving average price of $152.56 and a 200 day moving average price of $150.46. Target Co. has a 12-month low of $127.19 and a 12-month high of $181.86.

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

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 46.28%.

Target 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.