Inspire Trust Co. N.A. Has $6.80 Million Stock Holdings in Target Co. (NYSE:TGT)

Inspire Trust Co. N.A. increased its stake in shares of Target Co. (NYSE:TGT) by 28.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,639 shares of the retailer’s stock after acquiring an additional 9,652 shares during the period. Target comprises about 1.9% of Inspire Trust Co. N.A.’s portfolio, making the stock its 10th largest position. Inspire Trust Co. N.A.’s holdings in Target were worth $6,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Synovus Financial Corp lifted its position in Target by 7.2% during the 3rd quarter. Synovus Financial Corp now owns 37,209 shares of the retailer’s stock worth $5,800,000 after buying an additional 2,496 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Target by 9.4% during the 3rd quarter. Tidal Investments LLC now owns 38,774 shares of the retailer’s stock worth $6,043,000 after buying an additional 3,325 shares during the period. Cim Investment Management Inc. boosted its holdings in shares of Target by 63.2% during the third quarter. Cim Investment Management Inc. now owns 14,930 shares of the retailer’s stock worth $2,327,000 after acquiring an additional 5,779 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Target by 331.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 14,387 shares of the retailer’s stock valued at $2,242,000 after purchasing an additional 11,054 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in Target during the 3rd quarter worth approximately $1,684,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

NYSE:TGT opened at $135.27 on Friday. The stock’s 50-day moving average is $145.06 and its 200-day moving average is $147.29. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a market cap of $61.98 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 earnings per share. Equities research analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Wednesday, November 20th. Target’s dividend payout ratio is currently 47.51%.

Insiders Place Their Bets

In other Target 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 approximately $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Guggenheim lowered their price objective on Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. BMO Capital Markets dropped their price objective on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. Piper Sandler lowered their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Royal Bank of Canada boosted their price target on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $160.57.

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.