Horrell Capital Management Inc. Reduces Stock Position in Target Co. (NYSE:TGT)

Horrell Capital Management Inc. lessened its position in Target Co. (NYSE:TGT) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,581 shares of the retailer’s stock after selling 2,980 shares during the quarter. Target accounts for 1.2% of Horrell Capital Management Inc.’s portfolio, making the stock its 26th largest position. Horrell Capital Management Inc.’s holdings in Target were worth $4,143,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. lifted its holdings in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in shares of Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after acquiring an additional 68 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the last quarter. Integral Investment Advisors Inc. lifted its holdings in shares of Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares during the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE:TGT traded down $0.01 during trading hours on Tuesday, reaching $149.29. 691,666 shares of the company were exchanged, compared to its average volume of 3,927,670. 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 stock’s 50-day moving average is $153.48 and its 200-day moving average is $151.66. The firm has a market cap of $69.07 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 earnings per share. On average, sell-side analysts anticipate that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 50.28%.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 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 document filed with the SEC, which can be accessed through this link. Also, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TGT has been the subject of several analyst reports. Royal Bank of Canada raised their target price on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Roth Mkm lifted their price objective on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Piper Sandler started coverage on shares of Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective for the company. Bank of America boosted their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Jefferies Financial Group boosted their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Target presently has an average rating of “Moderate Buy” and an average price target of $179.47.

Target 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.