Dumont & Blake Investment Advisors LLC Sells 8,627 Shares of Target Co. (NYSE:TGT)

Dumont & Blake Investment Advisors LLC reduced its stake in shares of Target Co. (NYSE:TGT) by 50.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,611 shares of the retailer’s stock after selling 8,627 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Target were worth $1,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TGT. Triad Wealth Partners LLC purchased a new position in shares of Target during the 2nd quarter valued at $25,000. Washington Trust Advisors Inc. lifted its holdings in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Slocum Gordon & Co LLP bought a new position in Target during the second quarter worth about $28,000. Retirement Group LLC increased its stake in shares of Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after purchasing an additional 91 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Target in the second quarter valued at approximately $31,000. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Monday, August 26th. Sanford C. Bernstein started coverage on shares of Target in a research report on Tuesday. They issued a “market perform” rating and a $168.00 price objective for the company. Citigroup upped their target price on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Roth Mkm increased their price objective on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Finally, Truist Financial upped their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Insider Activity at Target

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

Target Trading Up 1.3 %

TGT stock traded up $2.00 during mid-day trading on Friday, reaching $152.18. 368,928 shares of the stock traded hands, compared to its average volume of 3,932,147. The stock has a market capitalization of $70.40 billion, a PE ratio of 16.85, a PEG ratio of 1.99 and a beta of 1.24. Target Co. has a one year low of $105.23 and a one year high of $181.86. 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 business has a 50-day moving average price of $153.07 and a two-hundred day moving average price of $152.23.

Target (NYSE:TGT) last issued its 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 net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the prior year, the firm earned $1.80 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts expect that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The company 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 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.