Dorsey & Whitney Trust CO LLC Sells 340 Shares of Target Co. (NYSE:TGT)

04 Feb 2024, 14:12 by Teresa Graham · The Cerbat Gem

Dorsey & Whitney Trust CO LLC lessened its holdings in shares of Target Co. (NYSE:TGT – Free Report) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,688 shares of the retailer’s stock after selling 340 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Target were worth $4,278,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. State Street Corp boosted its position in shares of Target by 4.6% during the 1st quarter. State Street Corp now owns 34,570,634 shares of the retailer’s stock worth $5,725,904,000 after acquiring an additional 1,529,881 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Target by 95,980.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after acquiring an additional 18,518,448 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Target by 35.4% during the 2nd quarter. Franklin Resources Inc. now owns 8,973,381 shares of the retailer’s stock worth $1,183,589,000 after acquiring an additional 2,343,668 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Target by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 8,443,280 shares of the retailer’s stock worth $1,110,515,000 after acquiring an additional 142,997 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Target by 2.9% during the 4th quarter. Morgan Stanley now owns 6,481,880 shares of the retailer’s stock worth $966,059,000 after acquiring an additional 183,575 shares in the last quarter. Institutional investors and hedge funds own 78.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TGT shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Target in a research report on Thursday. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Telsey Advisory Group increased their price objective on shares of Target from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, November 16th. Wells Fargo & Company increased their price objective on shares of Target from $148.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Finally, Jefferies Financial Group dropped their price objective on shares of Target from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, November 14th. Fourteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and an average price target of $155.62.

Check Out Our Latest Stock Analysis on Target

Insiders Place Their Bets

In other Target news, insider Matthew L. Zabel sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $131.33, for a total value of $525,320.00. Following the completion of the sale, the insider now directly owns 16,486 shares in the company, valued at $2,165,106.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Don H. Liu sold 16,000 shares of Target stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $130.00, for a total transaction of $2,080,000.00. Following the completion of the transaction, the insider now directly owns 48,882 shares in the company, valued at $6,354,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew L. Zabel sold 4,000 shares of Target stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $131.33, for a total transaction of $525,320.00. Following the transaction, the insider now owns 16,486 shares of the company’s stock, valued at $2,165,106.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,000 shares of company stock worth $3,127,520. 0.23% of the stock is currently owned by company insiders.

Target Price Performance

Shares of NYSE TGT opened at $145.49 on Friday. Target Co. has a twelve month low of $102.93 and a twelve month high of $179.07. The firm has a fifty day simple moving average of $139.13 and a 200 day simple moving average of $127.02. The company has a market capitalization of $67.17 billion, a PE ratio of 18.56, a P/E/G ratio of 1.13 and a beta of 1.11. The company has a quick ratio of 0.18, a current ratio of 0.86 and a debt-to-equity ratio of 1.19.

Target (NYSE:TGT – Get Free Report) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.62. The business had revenue of $25 billion during the quarter, compared to analysts’ expectations of $25.28 billion. Target had a net margin of 3.40% and a return on equity of 30.69%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the company posted $1.54 earnings per share. On average, sell-side analysts forecast that Target Co. will post 8.34 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 21st will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s payout ratio is 56.12%.

About Target

(Free Report)

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.