West Michigan Advisors LLC Has $504,000 Stake in Target Co. (NYSE:TGT)

West Michigan Advisors LLC raised its holdings in Target Co. (NYSE:TGT) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,233 shares of the retailer’s stock after acquiring an additional 434 shares during the quarter. West Michigan Advisors LLC’s holdings in Target were worth $504,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TGT. International Assets Investment Management LLC increased its holdings in Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after purchasing an additional 1,981,458 shares during the last quarter. Boston Partners acquired a new position in Target during the first quarter valued at approximately $335,870,000. AQR Capital Management LLC increased its stake in Target by 711.2% in the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after purchasing an additional 768,479 shares in the last quarter. Swedbank AB acquired a new stake in Target in the first quarter worth $107,367,000. Finally, Clearbridge Investments LLC boosted its position 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 in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $150.17 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The firm has a 50-day moving average of $153.07 and a 200-day moving average of $152.23. The company has a market cap of $69.47 billion, a PE ratio of 16.85, a price-to-earnings-growth 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.

Target (NYSE:TGT) last announced 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 firm had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the previous year, the business earned $1.80 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.98%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is 50.28%.

Insiders Place Their Bets

In other news, 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the business’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 transaction of $7,140,150.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TGT has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Melius Research initiated coverage on Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. Jefferies Financial Group lifted their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Piper Sandler assumed coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price for the company. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 price target on shares of Target in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.47.

About Target

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.