Target Co. (NYSE:TGT) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. trimmed its position in Target Co. (NYSE:TGT) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,184 shares of the retailer’s stock after selling 265 shares during the period. Lee Danner & Bass Inc.’s holdings in Target were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Target by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 44,527,706 shares of the retailer’s stock worth $4,923,428,000 after purchasing an additional 702,565 shares during the period. FMR LLC grew its position in Target by 26.5% during the 3rd quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock worth $747,699,000 after purchasing an additional 1,415,900 shares during the period. Northern Trust Corp grew its position in Target by 2.7% during the 3rd quarter. Northern Trust Corp now owns 5,146,067 shares of the retailer’s stock worth $569,001,000 after purchasing an additional 134,262 shares during the period. Stifel Financial Corp grew its position in Target by 8.8% during the 3rd quarter. Stifel Financial Corp now owns 3,569,969 shares of the retailer’s stock worth $394,739,000 after purchasing an additional 287,748 shares during the period. Finally, Invesco Ltd. grew its position in Target by 3.8% during the 3rd quarter. Invesco Ltd. now owns 3,469,168 shares of the retailer’s stock worth $383,586,000 after purchasing an additional 127,491 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,600 shares of company stock valued at $8,819,598. Insiders own 0.23% of the company’s stock.

Target Price Performance

Shares of TGT opened at $167.11 on Tuesday. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The stock has a market cap of $77.15 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.14. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The firm has a fifty day moving average price of $164.04 and a 200 day moving average price of $141.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The firm had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same period in the previous year, the company earned $1.89 earnings per share. Target’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.63%. Target’s payout ratio is 49.27%.

Analysts Set New Price Targets

Several brokerages have weighed in on TGT. Citigroup increased their price target on Target from $142.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Truist Financial increased their target price on shares of Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. BMO Capital Markets increased their target price on shares of Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. HSBC raised shares of Target from a “hold” rating to a “buy” rating and raised their price target for the company from $140.00 to $195.00 in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Eleven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.85.

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.