Shum Financial Group Inc. Invests $760,000 in Target Co. (NYSE:TGT)

Shum Financial Group Inc. bought a new position in Target Co. (NYSE:TGT) during the third quarter, Holdings Channel reports. The firm bought 5,033 shares of the retailer’s stock, valued at approximately $760,000.

Other hedge funds have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in shares of Target in the second quarter worth about $25,000. Slocum Gordon & Co LLP acquired a new position in Target in the 2nd quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new position in Target in the 2nd quarter worth about $31,000. Wolff Wiese Magana LLC raised its holdings in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in Target in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of analyst reports. UBS Group upped their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Piper Sandler reduced their price target on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Morgan Stanley reissued an “overweight” rating and set a $180.00 target price on shares of Target in a report on Wednesday, August 21st. Wells Fargo & Company reduced their target price on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Daiwa America raised Target to a “strong-buy” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $160.30.

Insider Buying and Selling at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’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 sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Target Stock Down 2.1 %

Shares of NYSE TGT traded down $2.72 during mid-day trading on Tuesday, hitting $127.81. The company had a trading volume of 2,280,420 shares, compared to its average volume of 4,383,997. The company has a market capitalization of $58.88 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The business’s 50-day simple moving average is $150.82 and its 200 day simple moving average is $149.31.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 earnings per share. On average, analysts predict that Target Co. will post 8.6 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 47.51%.

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.