Hamlin Capital Management LLC Has $134.45 Million Stake in Target Co. (NYSE:TGT)

Hamlin Capital Management LLC boosted its position in shares of Target Co. (NYSE:TGT) by 10.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 862,616 shares of the retailer’s stock after buying an additional 79,120 shares during the quarter. Target accounts for 3.4% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Hamlin Capital Management LLC’s holdings in Target were worth $134,447,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in shares of Target during the 2nd quarter worth approximately $25,000. Slocum Gordon & Co LLP bought a new position in shares of Target in the second quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new stake in Target during the second quarter worth approximately $31,000. Washington Trust Advisors Inc. lifted its holdings in Target by 56.1% during 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 last quarter. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $151.16 on Friday. The business’s 50-day moving average price is $153.38 and its 200-day moving average price is $151.95. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. 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 capitalization of $69.93 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last posted its earnings results 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 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 company earned $1.80 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts forecast that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.96%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling

In other news, CAO Matthew A. Liegel sold 1,000 shares of the 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 sale, the chief accounting officer now owns 7,276 shares of the company’s stock, 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 is accessible through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the business’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 value of $7,140,150.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. 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 in the last three months. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

TGT has been the topic of a number of recent research reports. Daiwa America raised shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. TD Cowen increased their price target on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Monday, August 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Thursday, September 19th. Finally, Piper Sandler started coverage on Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Target presently has an average rating of “Moderate Buy” and an average target price of $179.47.

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.