ST Germain D J Co. Inc. Reduces Stock Holdings in Target Co. (NYSE:TGT)

ST Germain D J Co. Inc. cut its holdings in Target Co. (NYSE:TGT) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,964 shares of the retailer’s stock after selling 144 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Target were worth $930,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TGT. Raymond James & Associates grew its position in Target by 2.4% during the 3rd quarter. Raymond James & Associates now owns 1,488,308 shares of the retailer’s stock worth $231,968,000 after purchasing an additional 35,255 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Target by 8.7% during the third quarter. Blue Trust Inc. now owns 3,374 shares of the retailer’s stock worth $500,000 after buying an additional 271 shares during the period. Riverview Trust Co grew its holdings in shares of Target by 3.9% during the third quarter. Riverview Trust Co now owns 2,501 shares of the retailer’s stock valued at $390,000 after buying an additional 95 shares during the last quarter. Generate Investment Management Ltd purchased a new position in Target in the 3rd quarter worth $8,689,000. Finally, Net Worth Advisory Group acquired a new stake in Target during the 3rd quarter worth about $1,289,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of the 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 sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents 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 valued at $8,290,995 over the last quarter. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research reports. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Telsey Advisory Group restated an “outperform” rating and set a $195.00 price objective on shares of Target in a research note on Thursday, September 19th. Royal Bank of Canada increased their price objective 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. TD Cowen upped their price target on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Bank of America lifted their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.69.

Target Price Performance

TGT stock opened at $156.84 on Friday. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The business has a fifty day moving average of $152.25 and a two-hundred day moving average of $152.73. The stock has a market cap of $72.56 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.99 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.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.80 EPS. As a group, research analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.86%. Target’s dividend payout ratio (DPR) is presently 50.28%.

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.