Accredited Investors Inc. Reduces Stock Position in Target Co. (NYSE:TGT)

Accredited Investors Inc. trimmed its holdings in Target Co. (NYSE:TGT) by 30.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,308 shares of the retailer’s stock after selling 3,671 shares during the period. Accredited Investors Inc.’s holdings in Target were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Triad Wealth Partners LLC bought a new stake in shares of Target during the 2nd quarter valued at $25,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target in the second quarter worth about $28,000. Hobbs Group Advisors LLC bought a new position in shares of Target in the second quarter valued at approximately $31,000. Wolff Wiese Magana LLC increased its holdings in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Target in the 2nd quarter worth approximately $37,000. Institutional investors own 79.73% of the company’s stock.

Insider Activity

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 12.90 % 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 valued at $8,290,995. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TGT. UBS Group boosted their price target on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. TD Cowen upped their target price on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Truist Financial lifted their price target on Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. StockNews.com cut shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Bank of America boosted their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Target Stock Performance

Target stock opened at $152.13 on Friday. Target Co. has a 1-year low of $127.19 and a 1-year high of $181.86. The firm has a market cap of $70.08 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.00 and a beta of 1.24. 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 50-day moving average of $152.56 and a 200-day moving average of $150.39.

Target (NYSE:TGT) last issued 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 firm 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 business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $1.80 EPS. Sell-side analysts expect that Target Co. will post 9.54 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.94%. Target’s dividend payout ratio is 46.28%.

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.