Probity Advisors Inc. Has $1.30 Million Stock Position in Target Co. (NYSE:TGT)

Probity Advisors Inc. lessened its position in shares of Target Co. (NYSE:TGT) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 8,351 shares of the retailer’s stock after selling 113 shares during the quarter. Probity Advisors Inc.’s holdings in Target were worth $1,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. Triad Wealth Partners LLC acquired a new position in Target in the second quarter valued at $25,000. Slocum Gordon & Co LLP acquired a new position in shares of Target in the 2nd quarter valued at about $28,000. Scarborough Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at about $29,000. Hobbs Group Advisors LLC bought a new stake in shares of Target during the 2nd quarter valued at about $31,000. Finally, Washington Trust Advisors Inc. grew its stake in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the company’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 sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on 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 transaction, the insider now owns 303,843 shares of the company’s stock, 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. Insiders have sold 52,348 shares of company stock valued at $8,290,995 in the last 90 days. Insiders own 0.23% of the company’s stock.

Target Trading Up 0.2 %

Shares of Target stock opened at $159.20 on Thursday. The firm has a market cap of $73.65 billion, a PE ratio of 17.83, a P/E/G ratio of 1.99 and a beta of 1.24. The stock has a fifty day moving average price of $151.39 and a 200-day moving average price of $153.02. 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 1 year low of $105.23 and a 1 year high of $181.86.

Target (NYSE:TGT) last released 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 firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.81%. Target’s payout ratio is presently 50.28%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TGT. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Monday, August 26th. Truist Financial lifted their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. UBS Group raised their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler started coverage on Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Finally, Royal Bank of Canada increased their price target on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.69.

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.