Baldwin Investment Management LLC Buys Shares of 1,291 Target Co. (NYSE:TGT)

Baldwin Investment Management LLC purchased a new position in Target Co. (NYSE:TGT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,291 shares of the retailer’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Thrivent Financial for Lutherans raised its holdings in Target by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares during the period. D.A. Davidson & CO. raised its stake in shares of Target by 8.6% in the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after buying an additional 9,510 shares during the period. Transamerica Financial Advisors Inc. bought a new position in shares of Target in the third quarter worth about $967,000. TAP Consulting LLC purchased a new position in shares of Target during the 3rd quarter valued at about $2,403,000. Finally, Olstein Capital Management L.P. grew its stake in shares of Target by 8.7% during the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock valued at $7,793,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Guggenheim decreased their price objective on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Truist Financial upped their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Bank of America decreased their price target on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, Piper Sandler lowered their price objective on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $160.30.

Target Trading Up 2.8 %

TGT stock opened at $130.11 on Thursday. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The stock has a market capitalization of $59.94 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm’s fifty day simple moving average is $149.84 and its two-hundred day simple moving average is $148.92.

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

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is currently 47.51%.

Insider Buying and Selling at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. This represents a 12.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of Target 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 of the company’s stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

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.