CNB Bank Sells 917 Shares of Target Co. (NYSE:TGT)

CNB Bank lowered its position in shares of Target Co. (NYSE:TGT) by 16.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,583 shares of the retailer’s stock after selling 917 shares during the quarter. CNB Bank’s holdings in Target were worth $714,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Boston Partners bought a new stake in shares of Target during the 1st quarter valued at about $335,870,000. AQR Capital Management LLC boosted its holdings in shares of Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after buying an additional 768,479 shares in the last quarter. Swedbank AB acquired a new stake in shares of Target during the 1st quarter worth approximately $107,367,000. Clearbridge Investments LLC increased its stake in shares of Target by 17.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after acquiring an additional 470,647 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TGT shares. JPMorgan Chase & Co. raised their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Bank of America raised their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Truist Financial upped their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Oppenheimer reduced their price objective on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $179.69.

Target Stock Up 0.6 %

Shares of NYSE:TGT opened at $156.84 on Friday. Target Co. has a 1 year low of $105.23 and a 1 year high of $181.86. The company has a market capitalization of $72.56 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The business has a fifty day moving average price of $152.25 and a two-hundred day moving average price of $152.73. 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 (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. Analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.86%. Target’s payout ratio is 50.28%.

Insider Buying and Selling at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated 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 of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.23% of the company’s stock.

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.