Target Co. (NYSE:TGT) Holdings Boosted by Amalgamated Bank

Amalgamated Bank raised its position in shares of Target Co. (NYSE:TGT – Get Rating) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 123,381 shares of the retailer’s stock after acquiring an additional 1,211 shares during the period. Amalgamated Bank’s holdings in Target were worth $18,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TGT. Vanguard Group Inc. increased its stake in Target by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 42,833,900 shares of the retailer’s stock valued at $6,356,122,000 after buying an additional 358,425 shares during the period. State Street Corp increased its holdings in shares of Target by 2.6% in the third quarter. State Street Corp now owns 34,191,786 shares of the retailer’s stock valued at $5,073,719,000 after buying an additional 852,361 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Target by 20.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,177,540 shares of the retailer’s stock valued at $1,213,466,000 after acquiring an additional 1,401,559 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Target by 8.3% during the 4th quarter. Franklin Resources Inc. now owns 5,312,494 shares of the retailer’s stock worth $791,774,000 after acquiring an additional 407,053 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Target by 6.3% in the 4th quarter. Fisher Asset Management LLC now owns 5,093,983 shares of the retailer’s stock worth $759,207,000 after acquiring an additional 300,077 shares during the last quarter. 78.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on TGT shares. Raymond James upped their target price on Target from $185.00 to $195.00 and gave the company a “strong-buy” rating in a report on Thursday, March 2nd. Piper Sandler increased their price target on Target from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Roth Capital reiterated a “neutral” rating on shares of Target in a research report on Wednesday, March 1st. Barclays initiated coverage on Target in a research report on Tuesday, February 7th. They issued an “equal weight” rating and a $163.00 price target for the company. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $155.00 price target on shares of Target in a research report on Monday, February 13th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.69.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 35,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the sale, the insider now owns 191,272 shares of the company’s stock, valued at $30,408,422.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Brian C. Cornell sold 35,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the sale, the insider now owns 191,272 shares of the company’s stock, valued at $30,408,422.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew A. Liegel sold 1,459 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $160.75, for a total value of $234,534.25. Following the completion of the sale, the chief accounting officer now directly owns 3,748 shares in the company, valued at approximately $602,491. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Target Trading Down 0.9 %

Shares of Target stock traded down $1.30 during trading on Friday, reaching $139.45. 3,377,307 shares of the company were exchanged, compared to its average volume of 3,312,806. The company has a quick ratio of 0.18, a current ratio of 0.88 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $64.36 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.12 and a beta of 1.02. The business has a 50-day moving average price of $158.97 and a 200-day moving average price of $160.51. Target Co. has a twelve month low of $137.16 and a twelve month high of $183.89.

Target (NYSE:TGT – Get Rating) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.29. The firm had revenue of $24.95 billion for the quarter, compared to analyst estimates of $25.28 billion. Target had a return on equity of 24.49% and a net margin of 2.49%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.19 earnings per share. Sell-side analysts anticipate that Target Co. will post 8.29 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, May 16th. Target’s dividend payout ratio is currently 73.59%.

Target Company Profile

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.