Soltis Investment Advisors LLC Acquires New Holdings in Target Co. (NYSE:TGT)

Soltis Investment Advisors LLC bought 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 institutional investor bought 2,090 shares of the retailer’s stock, valued at approximately $326,000.

Several other hedge funds also recently bought and sold shares of TGT. State Street Corp increased its position in shares of Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares in the last quarter. FMR LLC grew its stake in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Geode Capital Management LLC increased its holdings in shares of Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after acquiring an additional 130,691 shares in the last quarter. Legal & General Group Plc raised its position in shares of Target by 6.8% during the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after purchasing an additional 279,656 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after purchasing an additional 440,307 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

Shares of NYSE TGT opened at $135.27 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $61.98 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.17 and a beta of 1.17. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The stock has a 50 day moving average of $145.34 and a 200-day moving average of $147.37.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.10 earnings per share. As a group, equities research analysts predict that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.31%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price objective on shares of Target in a research report on Wednesday, November 20th. Wells Fargo & Company dropped their price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. StockNews.com lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, Piper Sandler dropped their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Target presently has a consensus rating of “Hold” and a consensus price target of $160.57.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred 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 approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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.