Graypoint LLC Reduces Position in Target Co. (NYSE:TGT)

Graypoint LLC trimmed its position in Target Co. (NYSE:TGT) by 2.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,855 shares of the retailer’s stock after selling 101 shares during the period. Graypoint LLC’s holdings in Target were worth $601,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. boosted its holdings in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the period. Financial Advocates Investment Management boosted its stake in Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after buying an additional 67 shares during the period. Williams Jones Wealth Management LLC. increased its position in Target by 0.6% during the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after acquiring an additional 68 shares during the last quarter. Beacon Capital Management LLC increased its position in Target by 20.8% during the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares during the last quarter. Finally, Integral Investment Advisors Inc. raised its stake in shares of Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TGT shares. TD Cowen upped their price target on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Roth Mkm upped their target price on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein assumed coverage on Target in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target for the company. Citigroup upped their price objective on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group increased their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.47.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s 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 transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s 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 owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.15% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $149.79 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 firm has a market cap of $69.00 billion, a PE ratio of 15.47, a P/E/G ratio of 1.93 and a beta of 1.24. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The stock has a fifty day moving average price of $152.39 and a 200-day moving average price of $150.84.

Target (NYSE:TGT) last issued 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. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter last year, the company earned $1.80 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Target Co. will post 9.54 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.99%. Target’s dividend payout ratio is currently 46.28%.

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.