Brighton Jones LLC Has $471,000 Holdings in Target Co. (NYSE:TGT)

Brighton Jones LLC decreased its position in Target Co. (NYSE:TGT) by 32.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,021 shares of the retailer’s stock after selling 1,456 shares during the period. Brighton Jones LLC’s holdings in Target were worth $471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC acquired a new stake in shares of Target during the second quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted its stake in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the period. Slocum Gordon & Co LLP purchased a new position in shares of Target during the 2nd quarter valued at $28,000. Retirement Group LLC increased its stake in shares of Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after acquiring an additional 91 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Target during the second quarter valued at $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TGT. StockNews.com downgraded Target from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Monday, August 26th. Jefferies Financial Group increased their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Royal Bank of Canada raised their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Piper Sandler began coverage on shares of Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

Target Stock Up 0.7 %

TGT stock opened at $151.16 on Friday. The company has a market cap of $69.93 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The business has a 50 day moving average price of $153.24 and a two-hundred day moving average price of $152.22. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $1.80 earnings per share. Analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 50.28%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.23% 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.