GAMMA Investing LLC Has $1.57 Million Stock Position in Target Co. (NYSE:TGT)

GAMMA Investing LLC increased its position in shares of Target Co. (NYSE:TGT) by 21.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,097 shares of the retailer’s stock after acquiring an additional 1,769 shares during the quarter. GAMMA Investing LLC’s holdings in Target were worth $1,574,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Little House Capital LLC purchased a new stake in shares of Target in the first quarter valued at $1,041,000. Nordea Investment Management AB boosted its position in Target by 23.6% during the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after acquiring an additional 122,706 shares during the period. QRG Capital Management Inc. grew its stake in Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after acquiring an additional 6,690 shares in the last quarter. Janney Capital Management LLC acquired a new position in shares of Target in the 1st quarter valued at about $13,958,000. Finally, Wellington Management Group LLP lifted its position in shares of Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after purchasing an additional 51,639 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 2.5 %

TGT stock opened at $149.05 on Tuesday. Target Co. has a twelve month low of $103.74 and a twelve month high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company has a market cap of $68.96 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The business’s 50-day simple moving average is $149.11 and its 200 day simple moving average is $153.87.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during 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%. Target’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 earnings per share. On average, research analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The business 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. This represents a $4.48 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 50.28%.

Insider Activity

In related news, 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 value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Citigroup increased their price objective on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Evercore ISI upped their target price on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price target on shares of Target in a report on Wednesday, August 21st. Finally, Truist Financial increased their price objective on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and an average target price of $179.69.

Target Company 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.