Adero Partners LLC Acquires 130 Shares of Target Co. (NYSE:TGT)

Adero Partners LLC lifted its holdings in Target Co. (NYSE:TGT) by 8.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,715 shares of the retailer’s stock after buying an additional 130 shares during the quarter. Adero Partners LLC’s holdings in Target were worth $267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. International Assets Investment Management LLC raised its holdings in Target by 9,940.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after purchasing an additional 1,981,458 shares during the last quarter. Boston Partners bought a new stake in Target during the 1st quarter worth about $335,870,000. AQR Capital Management LLC raised its holdings in Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after purchasing an additional 768,479 shares during the last quarter. Swedbank AB bought a new stake in Target during the 1st quarter worth about $107,367,000. Finally, Victory Capital Management Inc. raised its holdings in Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after purchasing an additional 440,307 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Trading Down 0.9 %

Shares of Target stock opened at $152.13 on Monday. Target Co. has a 12-month low of $127.19 and a 12-month high of $181.86. The stock has a market cap of $70.08 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.01 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $152.56 and its 200-day moving average is $150.34.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company 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 business posted $1.80 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts predict that Target Co. will post 9.55 earnings per share for the current fiscal year.

Target Dividend Announcement

The business 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.94%. Target’s dividend payout ratio (DPR) is 46.28%.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target 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 completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TGT. Jefferies Financial Group boosted their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Stifel Nicolaus boosted their target price on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Royal Bank of Canada boosted their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, UBS Group boosted their target price on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.