Corundum Trust Company INC Has $286,000 Stake in Target Co. (NYSE:TGT)

Corundum Trust Company INC trimmed its position in shares of Target Co. (NYSE:TGT) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,837 shares of the retailer’s stock after selling 372 shares during the period. Target accounts for approximately 0.8% of Corundum Trust Company INC’s investment portfolio, making the stock its 27th biggest position. Corundum Trust Company INC’s holdings in Target were worth $286,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in shares of Target in the second quarter valued at $25,000. Washington Trust Advisors Inc. increased its holdings in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Slocum Gordon & Co LLP acquired a new position in shares of Target in the second quarter valued at $28,000. Retirement Group LLC increased its holdings in shares of Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after purchasing an additional 91 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Target in the second quarter valued at about $31,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’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 $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the company’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 $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of Target stock opened at $149.19 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The stock has a market cap of $69.02 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.99 and a beta of 1.24. The company’s fifty day moving average is $152.82 and its 200 day moving average is $152.26.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $25.19 billion. During the same quarter in the prior year, the firm posted $1.80 earnings per share. The business’s quarterly 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 year.

Target Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.00%. Target’s payout ratio is 50.28%.

Analysts Set New Price Targets

Several equities analysts recently commented on TGT shares. Morgan Stanley restated an “overweight” rating and issued a $180.00 price target on shares of Target in a research note on Wednesday, August 21st. Royal Bank of Canada upped their target price on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Citigroup upped their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler assumed coverage on Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price for the company. Finally, UBS Group upped 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and a consensus 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.