Target Co. (NYSE:TGT) Shares Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC boosted its stake in Target Co. (NYSE:TGT) by 10.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,300 shares of the retailer’s stock after acquiring an additional 876 shares during the period. Palumbo Wealth Management LLC’s holdings in Target were worth $1,449,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. increased its position in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Financial Advocates Investment Management increased its position in Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after acquiring an additional 67 shares during the period. Williams Jones Wealth Management LLC. boosted its holdings in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after purchasing an additional 68 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares in the last quarter. Finally, Integral Investment Advisors Inc. boosted its holdings in Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TGT. Stifel Nicolaus lifted their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Truist Financial boosted their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and set a $180.00 price target on shares of Target in a research note on Wednesday, August 21st. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler assumed coverage on Target in a research note on Wednesday, July 10th. They set 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 given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus price target of $179.47.

Target Stock Up 0.1 %

Shares of TGT stock traded up $0.10 during trading hours on Thursday, hitting $148.62. 293,888 shares of the company were exchanged, compared to its average volume of 3,914,157. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a one year low of $105.23 and a one year high of $181.86. The business’s 50-day simple moving average is $153.33 and its two-hundred day simple moving average is $151.51. The stock has a market capitalization of $68.47 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings data 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 firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. Sell-side analysts predict that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The firm 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 of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.01%. Target’s dividend payout ratio (DPR) is 46.28%.

Insider Buying and Selling

In related news, 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 transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’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 transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 over the last quarter. 0.15% of the stock is owned by company insiders.

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.