Curbstone Financial Management Corp Has $1.74 Million Position in Target Co. (NYSE:TGT)

Curbstone Financial Management Corp raised its stake in Target Co. (NYSE:TGT) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,134 shares of the retailer’s stock after acquiring an additional 110 shares during the quarter. Curbstone Financial Management Corp’s holdings in Target were worth $1,735,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Target by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock worth $6,401,142,000 after purchasing an additional 417,818 shares during the period. Legal & General Group Plc increased its position in Target by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after buying an additional 279,656 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after buying an additional 440,307 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after acquiring an additional 470,647 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Target by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock valued at $461,031,000 after acquiring an additional 435,229 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on TGT shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 price objective on shares of Target in a research note on Thursday, September 19th. Bank of America lifted their price target 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. Evercore ISI increased their price target on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Piper Sandler assumed coverage on Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective for the company. Finally, Melius Research assumed coverage on Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Target Price Performance

Shares of TGT opened at $149.59 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The stock has a market cap of $69.21 billion, a PE ratio of 16.79, a PEG ratio of 2.00 and a beta of 1.24. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The business has a 50-day simple moving average of $149.03 and a two-hundred day simple moving average of $154.18.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.80 earnings per share. Analysts anticipate that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm 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 dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is currently 50.28%.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of the firm’s 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 completion of the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.23% of the company’s stock.

About Target

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.