Summit Place Financial Advisors LLC Has $1.88 Million Stock Position in Target Co. (NYSE:TGT)

Summit Place Financial Advisors LLC reduced its position in shares of Target Co. (NYSE:TGT) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,066 shares of the retailer’s stock after selling 1,350 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Target were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in Target by 6.8% in the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after buying an additional 279,656 shares during the period. Victory Capital Management Inc. boosted its position in shares of Target by 11.4% in the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after purchasing an additional 440,307 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Target by 17.5% during the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after purchasing an additional 470,647 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Target by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after purchasing an additional 435,229 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Target by 9.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock worth $458,131,000 after purchasing an additional 272,521 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Target

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

Analyst Ratings Changes

A number of equities analysts have issued reports on TGT shares. Daiwa America upgraded Target to a “strong-buy” rating in a report on Monday, August 26th. Truist Financial lifted their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Evercore ISI lowered their target price on shares of Target from $170.00 to $165.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.47.

Target Stock Performance

Shares of NYSE TGT opened at $151.65 on Monday. The stock has a market capitalization of $70.16 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The stock has a 50 day moving average price of $153.38 and a 200 day moving average price of $151.82. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last released its 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. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period last year, the business earned $1.80 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. Analysts predict that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.95%. Target’s payout ratio is 50.28%.

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.