Amalgamated Bank Decreases Position in Target Co. (NYSE:TGT)

Amalgamated Bank trimmed its holdings in shares of Target Co. (NYSE:TGT) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,863 shares of the retailer’s stock after selling 2,571 shares during the quarter. Amalgamated Bank’s holdings in Target were worth $14,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. lifted its position in Target by 56.1% during 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 period. Financial Advocates Investment Management lifted its holdings in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares during the period. Williams Jones Wealth Management LLC. boosted its stake in shares of Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after buying an additional 68 shares during the last quarter. Beacon Capital Management LLC grew its holdings in Target by 20.8% during the second 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 period. Finally, Integral Investment Advisors Inc. raised its position in Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Up 0.7 %

Shares of TGT opened at $151.07 on Wednesday. The company’s 50-day moving average price is $152.71 and its 200 day moving average price is $150.99. 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 firm has a market cap of $69.59 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’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. On average, sell-side analysts forecast that Target Co. will post 9.54 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.97%. Target’s payout ratio is presently 46.28%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’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 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 SEC, which is available through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. 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. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TGT has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Melius Research initiated coverage on shares of Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price on the stock. Wells Fargo & Company upped their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada raised their price objective on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Target has a consensus rating of “Moderate Buy” and an average price target 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.