Smead Capital Management Inc. Has $193.88 Million Holdings in Target Co. (NYSE:TGT)

Smead Capital Management Inc. lifted its holdings in shares of Target Co. (NYSE:TGT) by 3.4% during the 3rd quarter, Holdings Channel reports. The firm owned 1,243,928 shares of the retailer’s stock after purchasing an additional 41,394 shares during the period. Target makes up 2.8% of Smead Capital Management Inc.’s holdings, making the stock its 20th largest holding. Smead Capital Management Inc.’s holdings in Target were worth $193,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in shares of Target in the 2nd quarter valued at approximately $25,000. Slocum Gordon & Co LLP bought a new position in shares of Target in the 2nd quarter valued at $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of Target during the second quarter valued at about $31,000. Wolff Wiese Magana LLC boosted its position in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Target in the second quarter worth $37,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Target stock opened at $156.50 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a 1-year low of $128.37 and a 1-year high of $181.86. The firm has a market capitalization of $72.09 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.98 and a beta of 1.24. The firm’s 50 day simple moving average is $152.68 and its 200 day simple moving average is $150.33.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating 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 business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same period last year, the firm posted $1.80 earnings per share. Target’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts expect that Target Co. will post 9.55 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 46.28%.

Wall Street Analyst Weigh In

Several analysts recently commented on TGT shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 target price on shares of Target in a report on Wednesday, November 13th. Melius Research assumed coverage on Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. Truist Financial lifted their price objective on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Roth Mkm boosted their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Insider Activity at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.15% of the company’s stock.

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.