Allied Investment Advisors LLC Raises Stock Holdings in Target Co. (NYSE:TGT)

Allied Investment Advisors LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,135 shares of the retailer’s stock after purchasing an additional 2,231 shares during the quarter. Allied Investment Advisors LLC’s holdings in Target were worth $9,373,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Triad Wealth Partners LLC bought a new stake in shares of Target in the second quarter worth $25,000. Washington Trust Advisors Inc. raised its stake in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Slocum Gordon & Co LLP bought a new position in shares of Target during the second quarter worth about $28,000. Retirement Group LLC grew its stake in Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after purchasing an additional 91 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Target in the fourth quarter valued at about $28,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

Shares of NYSE:TGT traded up $3.28 during trading hours on Friday, hitting $152.88. 3,557,483 shares of the company’s stock traded hands, compared to its average volume of 4,000,033. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company’s fifty day simple moving average is $149.11 and its two-hundred day simple moving average is $154.08. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company has a market cap of $70.73 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24.

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. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period last year, the firm posted $1.80 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 2.93%. Target’s dividend payout ratio (DPR) is 50.28%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Melius Research initiated coverage on Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective on the stock. Truist Financial lifted their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. UBS Group increased their target price on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, TD Cowen lifted their price target on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. 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 is available through this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $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 quarter, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is owned by corporate 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.