Soltis Investment Advisors LLC Acquires Shares of 2,090 Target Co. (NYSE:TGT)

Soltis Investment Advisors LLC bought a new position in shares of Target Co. (NYSE:TGT) during the 3rd quarter, Holdings Channel.com reports. The fund bought 2,090 shares of the retailer’s stock, valued at approximately $326,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Thrivent Financial for Lutherans increased its stake in Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after acquiring an additional 490 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after purchasing an additional 9,510 shares in the last quarter. Prana Capital Management LP increased its position in shares of Target by 47.5% in the third quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after purchasing an additional 69,885 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in Target during the third quarter worth about $967,000. Finally, Geode Capital Management LLC grew its stake in Target by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after buying an additional 130,691 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TGT shares. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a research report on Wednesday, November 20th. Truist Financial upped their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their price target on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Target currently has an average rating of “Hold” and an average price target of $160.57.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Target Stock Performance

NYSE:TGT opened at $135.27 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The company has a 50 day simple moving average of $145.34 and a two-hundred day simple moving average of $147.37. The company has a market capitalization of $61.98 billion, a PE ratio of 14.34, a P/E/G ratio of 2.17 and a beta of 1.17.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share 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 analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 earnings per share. Research 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 was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Wednesday, November 20th. Target’s dividend payout ratio is 47.51%.

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.