Truist Financial Corp Decreases Position in Target Co. (NYSE:TGT)

Truist Financial Corp decreased its stake in Target Co. (NYSE:TGT) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 315,987 shares of the retailer’s stock after selling 70,366 shares during the quarter. Truist Financial Corp owned about 0.07% of Target worth $45,003,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Handelsbanken Fonder AB lifted its holdings in shares of Target by 5.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 141,326 shares of the retailer’s stock worth $15,626,000 after acquiring an additional 7,377 shares during the last quarter. Simplicity Solutions LLC lifted its stake in Target by 1.4% in the third quarter. Simplicity Solutions LLC now owns 9,487 shares of the retailer’s stock worth $1,049,000 after purchasing an additional 131 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of Target by 13.7% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 18,674 shares of the retailer’s stock valued at $2,065,000 after buying an additional 2,254 shares during the period. Lantz Financial LLC grew its stake in shares of Target by 5.3% during the third quarter. Lantz Financial LLC now owns 4,067 shares of the retailer’s stock valued at $450,000 after buying an additional 204 shares during the last quarter. Finally, Avestar Capital LLC raised its holdings in shares of Target by 48.1% in the third quarter. Avestar Capital LLC now owns 2,578 shares of the retailer’s stock worth $285,000 after buying an additional 837 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $164.74 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The firm has a market cap of $76.06 billion, a PE ratio of 18.45, a P/E/G ratio of 1.54 and a beta of 1.14. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The stock has a fifty day moving average price of $165.52 and a 200-day moving average price of $143.25.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The company had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same period last year, the business posted $1.89 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio is presently 49.27%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TGT has been the subject of a number of recent analyst reports. Tigress Financial boosted their price objective on Target from $180.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Oppenheimer upped their price target on shares of Target from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Guggenheim raised their price target on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price objective on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, HSBC raised shares of Target from a “hold” rating to a “buy” rating and raised their target price for the stock from $140.00 to $195.00 in a research report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and an average price target of $181.85.

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.