Atomi Financial Group Inc. Grows Holdings in Target Co. (NYSE:TGT)

Atomi Financial Group Inc. lifted its position in shares of Target Co. (NYSE:TGT) by 39.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,528 shares of the retailer’s stock after acquiring an additional 995 shares during the quarter. Atomi Financial Group Inc.’s holdings in Target were worth $550,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Little House Capital LLC acquired a new stake in Target in the first quarter valued at approximately $1,041,000. Nordea Investment Management AB grew its stake in Target by 23.6% in the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after acquiring an additional 122,706 shares during the period. QRG Capital Management Inc. increased its holdings in Target by 11.4% in the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after acquiring an additional 6,690 shares in the last quarter. Janney Capital Management LLC acquired a new position in Target during the first quarter worth $13,958,000. Finally, Wellington Management Group LLP lifted its holdings in Target by 864.4% during the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after purchasing an additional 51,639 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGT has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Roth Mkm increased their target price on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Citigroup raised their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Bank of America increased their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Insider Transactions at Target

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 other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is currently owned by corporate insiders.

Target Price Performance

Target stock opened at $155.97 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a market capitalization of $72.16 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The company’s 50 day simple moving average is $149.30 and its 200-day simple moving average is $153.60. Target Co. has a 1 year low of $105.23 and a 1 year high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS 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 company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the prior year, the firm earned $1.80 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.87%. Target’s dividend payout ratio is presently 50.28%.

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.