Galibier Capital Management Ltd. Sells 3,396 Shares of Target Co. (NYSE:TGT)

Galibier Capital Management Ltd. lessened its holdings in Target Co. (NYSE:TGT) by 49.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,528 shares of the retailer’s stock after selling 3,396 shares during the quarter. Galibier Capital Management Ltd.’s holdings in Target were worth $550,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Miracle Mile Advisors LLC boosted its holdings in Target by 17.8% during the first quarter. Miracle Mile Advisors LLC now owns 3,117 shares of the retailer’s stock valued at $552,000 after purchasing an additional 472 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Target by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,344,182 shares of the retailer’s stock worth $238,202,000 after purchasing an additional 82,306 shares in the last quarter. Norden Group LLC grew its holdings in shares of Target by 1,433.1% during the first quarter. Norden Group LLC now owns 29,159 shares of the retailer’s stock worth $5,167,000 after purchasing an additional 27,257 shares during the last quarter. Financial Sense Advisors Inc. lifted its stake in shares of Target by 9.9% in the 1st quarter. Financial Sense Advisors Inc. now owns 11,879 shares of the retailer’s stock valued at $2,105,000 after purchasing an additional 1,068 shares during the period. Finally, First Trust Direct Indexing L.P. increased its stake in shares of Target by 16.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 14,245 shares of the retailer’s stock valued at $2,524,000 after acquiring an additional 2,006 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Richard H. Gomez sold 6,348 shares of the 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 transaction, the insider now owns 123,551 shares in the company, valued at approximately $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 can be accessed through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. 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 worth $8,290,995 over the last three months. 0.15% of the stock is currently owned by insiders.

Target Stock Up 0.2 %

Shares of Target stock traded up $0.34 during trading on Wednesday, reaching $148.27. 132,459 shares of the company traded hands, compared to its average volume of 3,920,025. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The firm has a market capitalization of $68.30 billion, a PE ratio of 15.29, a P/E/G ratio of 1.99 and a beta of 1.24. The company has a 50 day moving average price of $153.55 and a 200-day moving average price of $151.53. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86.

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

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.02%. Target’s payout ratio is 46.28%.

Wall Street Analysts Forecast Growth

TGT has been the topic of several analyst reports. Bank of America increased their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Roth Mkm increased their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Citigroup boosted their price objective on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler initiated coverage on shares of Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.