ORG Partners LLC Reduces Stock Holdings in Target Co. (NYSE:TGT)

ORG Partners LLC reduced its stake in shares of Target Co. (NYSE:TGT) by 80.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,256 shares of the retailer’s stock after selling 5,082 shares during the quarter. ORG Partners LLC’s holdings in Target were worth $196,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TGT. Little House Capital LLC purchased a new position in shares of Target during the first quarter valued at about $1,041,000. Nordea Investment Management AB grew its stake in shares of Target by 23.6% in the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after acquiring an additional 122,706 shares during the last quarter. QRG Capital Management Inc. grew its position in Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after purchasing an additional 6,690 shares during the last quarter. Janney Capital Management LLC purchased a new position in shares of Target in the 1st quarter worth $13,958,000. Finally, Wellington Management Group LLP grew its holdings in shares of Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after acquiring an additional 51,639 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Trading Up 1.7 %

Shares of TGT stock opened at $160.65 on Wednesday. The company has a market cap of $74.32 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock’s 50 day simple moving average is $150.88 and its two-hundred day simple moving average is $152.98. Target Co. has a 1 year low of $105.23 and a 1 year high of $181.86.

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

Target Announces Dividend

The company also recently disclosed 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 2.79%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 50.28%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TGT. Oppenheimer dropped their target price on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Monday, August 26th. StockNews.com upgraded shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler started coverage on shares of Target in a research report 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 given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

Insiders Place Their Bets

In other news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The sale 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 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 owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last 90 days. Insiders own 0.23% of the company’s stock.

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.