Monte Financial Group LLC Has $7.94 Million Position in Target Co. (NYSE:TGT)

Monte Financial Group LLC lifted its position in Target Co. (NYSE:TGT) by 22.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,932 shares of the retailer’s stock after purchasing an additional 9,381 shares during the quarter. Target comprises approximately 3.3% of Monte Financial Group LLC’s portfolio, making the stock its 2nd largest holding. Monte Financial Group LLC’s holdings in Target were worth $7,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Little House Capital LLC purchased a new position in Target in the 1st quarter worth approximately $1,041,000. Nordea Investment Management AB lifted its holdings in shares of Target by 23.6% during the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after acquiring an additional 122,706 shares during the last quarter. QRG Capital Management Inc. grew its position in Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after acquiring an additional 6,690 shares in the last quarter. Janney Capital Management LLC purchased a new position in Target in the first quarter worth $13,958,000. Finally, Wellington Management Group LLP increased its stake in Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after acquiring an additional 51,639 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.8 %

NYSE:TGT opened at $148.04 on Thursday. 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 company has a 50-day moving average price of $153.07 and a 200-day moving average price of $152.23. The stock has a market cap of $68.49 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $25.19 billion. During the same period in the previous year, the firm posted $1.80 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Equities analysts predict that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 3.03%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research reports. TD Cowen upped their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Piper Sandler began coverage on Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Royal Bank of Canada lifted their price target 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. Citigroup boosted their price objective on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Oppenheimer reduced their target price on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One research 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

Insider Activity

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 value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.23% of the company’s stock.

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.