Target Co. (NYSE:TGT) Shares Acquired by Paloma Partners Management Co

Paloma Partners Management Co boosted its stake in Target Co. (NYSE:TGT) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,000 shares of the retailer’s stock after acquiring an additional 2,400 shares during the period. Paloma Partners Management Co’s holdings in Target were worth $4,676,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in shares of Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after acquiring an additional 9,510 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Target during the third quarter worth $967,000. TAP Consulting LLC acquired a new position in shares of Target in the 3rd quarter valued at about $2,403,000. Finally, Olstein Capital Management L.P. boosted its holdings in shares of Target by 8.7% in the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock valued at $7,793,000 after buying an additional 4,000 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial increased their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Bank of America reduced their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Melius Research started coverage on shares of Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of Target from $165.00 to $137.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $160.30.

Target Stock Up 1.7 %

Shares of Target stock opened at $132.31 on Monday. 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 12-month low of $120.21 and a 12-month high of $181.86. The firm has a market capitalization of $60.95 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. The stock’s fifty day moving average is $148.86 and its 200-day moving average is $148.45.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $25.87 billion. During the same period in the prior year, the company posted $2.10 earnings per share. Target’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is 47.51%.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

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.