Janney Montgomery Scott LLC Increases Stock Holdings in Target Co. (NYSE:TGT)

Janney Montgomery Scott LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 302,556 shares of the retailer’s stock after acquiring an additional 302 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Target were worth $47,156,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TGT. Legal & General Group Plc raised its position in shares of Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Target by 11.4% in the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after acquiring an additional 440,307 shares in the last quarter. Clearbridge Investments LLC increased its position in Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after buying an additional 470,647 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Target by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock valued at $461,031,000 after buying an additional 435,229 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in Target by 9.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after buying an additional 272,521 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s 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 $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the business’s 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 transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’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 completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 over the last quarter. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the topic of several research analyst reports. Piper Sandler assumed coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target on the stock. Truist Financial increased their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Stifel Nicolaus increased their price target on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Bank of America increased their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 price target on shares of Target in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and an average target price of $179.47.

Target Price Performance

TGT stock opened at $150.84 on Monday. The stock has a 50-day moving average price of $153.04 and a two-hundred day moving average price of $151.23. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The company has a market cap of $69.49 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the previous year, the business earned $1.80 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts predict that Target Co. will post 9.54 EPS for the current year.

Target Announces Dividend

The business also recently announced 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. This represents a $4.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 46.28%.

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.