BLB&B Advisors LLC Sells 726 Shares of Target Co. (NYSE:TGT)

BLB&B Advisors LLC decreased its position in Target Co. (NYSE:TGT) by 7.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,775 shares of the retailer’s stock after selling 726 shares during the period. BLB&B Advisors LLC’s holdings in Target were worth $1,368,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Little House Capital LLC purchased a new position in Target during the 1st quarter valued at about $1,041,000. Nordea Investment Management AB boosted its holdings in Target by 23.6% in 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 in the last quarter. QRG Capital Management Inc. raised its holdings in Target by 11.4% in the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after purchasing an additional 6,690 shares in the last quarter. Janney Capital Management LLC bought a new position in Target in the 1st quarter worth $13,958,000. Finally, Wellington Management Group LLP lifted its position in shares of Target by 864.4% in the 4th 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 during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 1.1 %

TGT stock opened at $149.19 on Wednesday. The firm’s 50-day moving average is $152.82 and its 200 day moving average is $152.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The company has a market capitalization of $69.02 billion, a PE ratio of 16.74, a P/E/G ratio of 1.99 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 the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.80 EPS. On average, research analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 3.00%. Target’s payout ratio is presently 50.28%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TGT. Morgan Stanley reissued an “overweight” rating and issued a $180.00 target price on shares of Target in a research report on Wednesday, August 21st. Roth Mkm upped their target price on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Truist Financial increased their price objective on Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Daiwa America upgraded Target to a “strong-buy” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $179.47.

Insider Activity

In other Target news, 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 transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at $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 at the SEC website. In related news, insider Richard H. Gomez sold 6,348 shares of the 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 sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction 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 in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.23% of the company’s stock.

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.