Ballast Inc. Boosts Stake in Target Co. (NYSE:TGT)

Ballast Inc. raised its stake in shares of Target Co. (NYSE:TGT) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 11,721 shares of the retailer’s stock after purchasing an additional 150 shares during the period. Target accounts for about 0.5% of Ballast Inc.’s investment portfolio, making the stock its 29th biggest holding. Ballast Inc.’s holdings in Target were worth $1,827,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. Triad Wealth Partners LLC purchased a new stake in Target during the 2nd quarter valued at approximately $25,000. Slocum Gordon & Co LLP bought a new stake in shares of Target in the second quarter worth about $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Target in the second quarter worth about $31,000. Washington Trust Advisors Inc. boosted its stake in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT opened at $155.91 on Friday. The company has a market cap of $72.13 billion, a PE ratio of 17.50, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm’s 50 day moving average price is $151.83 and its 200-day moving average price is $153.04.

Target (NYSE:TGT) last announced its quarterly 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 the consensus estimate of $25.19 billion. During the same period last year, the business posted $1.80 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Target Co. will post 9.53 EPS for the current fiscal 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 paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.87%. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insider Activity at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $7,140,150.00. Following the completion of the sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TGT shares. UBS Group increased their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Royal Bank of Canada lifted their price objective on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Piper Sandler began coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. One equities research 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 company. According to MarketBeat, Target has an average rating of “Moderate Buy” and a consensus target price of $179.69.

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.