Claro Advisors LLC Acquires 12,228 Shares of Target Co. (NYSE:TGT)

Claro Advisors LLC increased its position in shares of Target Co. (NYSE:TGT) by 549.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,453 shares of the retailer’s stock after purchasing an additional 12,228 shares during the period. Claro Advisors LLC’s holdings in Target were worth $2,253,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC boosted its stake in shares of Target by 16.0% during the third quarter. V Square Quantitative Management LLC now owns 11,374 shares of the retailer’s stock valued at $1,773,000 after purchasing an additional 1,572 shares during the period. LexAurum Advisors LLC lifted its holdings in Target by 13.4% during the 3rd quarter. LexAurum Advisors LLC now owns 2,381 shares of the retailer’s stock valued at $371,000 after buying an additional 282 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Target by 2.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,310 shares of the retailer’s stock worth $8,776,000 after acquiring an additional 1,181 shares during the period. Ballast Inc. increased its holdings in Target by 1.3% during the 3rd quarter. Ballast Inc. now owns 11,721 shares of the retailer’s stock worth $1,827,000 after purchasing an additional 150 shares during the period. Finally, Trust Co. of Vermont lifted its holdings in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after buying an additional 69 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of Target stock traded down $0.59 during mid-day trading on Friday, reaching $155.30. 283,398 shares of the stock traded hands, compared to its average volume of 3,943,515. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average of $151.83 and a 200 day moving average of $153.04. The stock has a market capitalization of $71.85 billion, a PE ratio of 17.50, a PEG ratio of 1.99 and a beta of 1.24. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the prior year, the business posted $1.80 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

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 issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.88%. Target’s dividend payout ratio is presently 50.28%.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research reports. Melius Research initiated coverage on shares of Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 target price on the stock. Piper Sandler began coverage on Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Roth Mkm lifted their price target on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Oppenheimer decreased their price objective on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average price target of $179.69.

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.