Synovus Financial Corp Purchases 2,496 Shares of Target Co. (NYSE:TGT)

Synovus Financial Corp boosted its holdings in Target Co. (NYSE:TGT) by 7.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 37,209 shares of the retailer’s stock after acquiring an additional 2,496 shares during the quarter. Synovus Financial Corp’s holdings in Target were worth $5,800,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cynosure Group LLC lifted its position in shares of Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the period. Financial Advocates Investment Management raised its stake in Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after buying an additional 67 shares in the last quarter. Hancock Whitney Corp lifted its holdings in Target by 3.3% in the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after buying an additional 68 shares during the period. Beacon Capital Management LLC boosted its position in Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares in the last quarter. Finally, Integral Investment Advisors Inc. grew its holdings in shares of Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares during the period. Institutional investors own 79.73% of the company’s stock.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Target Stock Down 0.6 %

Shares of Target stock opened at $134.54 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a market cap of $61.65 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The company’s 50 day moving average is $144.69 and its 200 day moving average is $147.21.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the company earned $2.10 earnings per share. Target’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts anticipate that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a dividend of $1.12 per share. The ex-dividend date was Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.33%. Target’s dividend payout ratio is currently 47.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TGT shares. Guggenheim dropped their price target on Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Truist Financial boosted their target price on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Evercore ISI reduced their target price on shares of Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, StockNews.com cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $160.57.

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.