Sunbelt Securities Inc. Has $551,000 Stake in Target Co. (NYSE:TGT)

Sunbelt Securities Inc. cut its position in Target Co. (NYSE:TGT) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,719 shares of the retailer’s stock after selling 383 shares during the quarter. Sunbelt Securities Inc.’s holdings in Target were worth $551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TGT. Jones Financial Companies Lllp raised its position in shares of Target by 27.1% in the 4th quarter. Jones Financial Companies Lllp now owns 5,865 shares of the retailer’s stock valued at $835,000 after buying an additional 1,251 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in shares of Target by 97.4% during the 4th quarter. CWA Asset Management Group LLC now owns 6,140 shares of the retailer’s stock valued at $874,000 after purchasing an additional 3,030 shares during the last quarter. NEOS Investment Management LLC grew its holdings in shares of Target by 46.4% during the 4th quarter. NEOS Investment Management LLC now owns 6,561 shares of the retailer’s stock valued at $934,000 after purchasing an additional 2,078 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Target by 5.8% during the 4th quarter. Rafferty Asset Management LLC now owns 40,255 shares of the retailer’s stock valued at $5,733,000 after purchasing an additional 2,219 shares during the last quarter. Finally, Peapack Gladstone Financial Corp grew its holdings in shares of Target by 6.9% during the 4th quarter. Peapack Gladstone Financial Corp now owns 16,340 shares of the retailer’s stock valued at $2,326,000 after purchasing an additional 1,054 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TGT shares. Roth Mkm lifted their price target on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and set a $180.00 target price on shares of Target in a report on Wednesday, August 21st. Truist Financial boosted their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group boosted 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. Finally, TD Cowen boosted their target price on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and an average price target of $179.69.

Target Price Performance

TGT opened at $152.20 on Wednesday. The firm has a market cap of $70.41 billion, a P/E ratio of 17.08, a PEG ratio of 2.00 and a beta of 1.24. The firm has a 50-day moving average of $148.89 and a 200 day moving average of $154.24. 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.

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

Target Dividend Announcement

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 given 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 2.94%. Target’s dividend payout ratio (DPR) is currently 50.28%.

Insider Activity

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 directly owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 directly owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $19,418,510.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. 0.23% of the stock is owned by company insiders.

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.