393 Shares in Target Co. (NYSE:TGT) Acquired by Clarity Asset Management Inc.

Clarity Asset Management Inc. acquired a new stake in Target Co. (NYSE:TGT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 393 shares of the retailer’s stock, valued at approximately $61,000.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in shares of Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after acquiring an additional 490 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after purchasing an additional 9,510 shares during the last quarter. Prana Capital Management LP raised its position in shares of Target by 47.5% in the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock valued at $33,834,000 after purchasing an additional 69,885 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in shares of Target during the 3rd quarter valued at approximately $967,000. Finally, TAP Consulting LLC acquired a new stake in shares of Target during the third quarter worth approximately $2,403,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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 transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Wells Fargo & Company reduced their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Piper Sandler lowered their price objective on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Guggenheim cut their price objective on Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, Truist Financial lifted their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.30.

Target Stock Performance

Shares of NYSE TGT opened at $135.24 on Tuesday. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a fifty day moving average price of $145.97 and a two-hundred day moving average price of $147.52. The firm has a market cap of $61.97 billion, a P/E ratio of 14.34, a PEG ratio of 2.17 and a beta of 1.17.

Target (NYSE:TGT) last announced its 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 prior year, the business earned $2.10 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts forecast that Target Co. will post 8.6 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 47.51%.

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.