Target Co. (NYSE:TGT) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. increased its stake in shares of Target Co. (NYSE:TGT) by 10.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,606 shares of the retailer’s stock after acquiring an additional 6,352 shares during the period. Griffin Asset Management Inc.’s holdings in Target were worth $7,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in Target during the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in Target during the fourth quarter worth about $29,000. Legacy Investment Solutions LLC grew its holdings in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after acquiring an additional 85 shares during the period. OFI Invest Asset Management acquired a new stake in Target during the fourth quarter worth about $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Target during the fourth quarter worth about $40,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider now owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Target Stock Performance

NYSE TGT opened at $95.25 on Friday. The stock has a market cap of $43.28 billion, a PE ratio of 10.10, a P/E/G ratio of 1.94 and a beta of 1.22. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a twelve month low of $87.35 and a twelve month high of $167.40. The stock has a fifty day simple moving average of $95.48 and a 200-day simple moving average of $115.23.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 earnings per share. Equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s dividend payout ratio is presently 49.23%.

Analysts Set New Price Targets

Several analysts have commented on TGT shares. KGI Securities set a $132.00 price objective on Target in a report on Wednesday, March 5th. Truist Financial raised their price objective on Target from $82.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, May 22nd. Roth Capital set a $122.00 price objective on Target in a report on Wednesday, March 5th. Evercore ISI dropped their price objective on Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Finally, Mizuho dropped their price objective on Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $116.70.

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.