Frank Rimerman Advisors LLC Has $1.39 Million Stock Holdings in Target Co. (NYSE:TGT)

Frank Rimerman Advisors LLC lifted its stake in shares of Target Co. (NYSE:TGT) by 7,426.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,408 shares of the retailer’s stock after acquiring an additional 9,283 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Target were worth $1,393,000 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 made changes to their positions in the stock. Little House Capital LLC acquired a new position in shares of Target in the 1st quarter worth approximately $1,041,000. Nordea Investment Management AB boosted its position in Target by 23.6% during the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after acquiring an additional 122,706 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after acquiring an additional 6,690 shares during the period. Janney Capital Management LLC bought a new position in shares of Target in the 1st quarter worth about $13,958,000. Finally, United Services Automobile Association lifted its stake in shares of Target by 134.6% in the 4th quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock valued at $14,781,000 after purchasing an additional 59,553 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TGT has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective for the company. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 target price on shares of Target in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Roth Mkm upped their price target on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average price target of $179.68.

Target Price Performance

Shares of NYSE:TGT opened at $154.75 on Monday. The company has a market capitalization of $71.59 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company’s 50-day moving average is $148.48 and its 200 day moving average is $154.85.

Target (NYSE:TGT) last issued 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. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the business posted $1.80 EPS. Target’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. Target’s payout ratio is 50.28%.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’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 sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

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.