Palouse Capital Management Inc. Has $3.63 Million Stock Holdings in Target Co. (NYSE:TGT)

Palouse Capital Management Inc. lowered its position in shares of Target Co. (NYSE:TGT) by 2.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,313 shares of the retailer’s stock after selling 686 shares during the quarter. Target accounts for about 2.3% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Palouse Capital Management Inc.’s holdings in Target were worth $3,634,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC bought a new position in Target during the second quarter worth about $25,000. Slocum Gordon & Co LLP acquired a new stake in Target during the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Target in the second quarter valued at about $31,000. Washington Trust Advisors Inc. lifted its position in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its holdings in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Target news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value 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 SEC, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last three months. Corporate insiders own 0.23% of the company’s stock.

Target Stock Down 4.2 %

Shares of TGT stock traded down $6.63 during trading hours on Monday, reaching $150.21. The company had a trading volume of 2,474,870 shares, compared to its average volume of 3,949,607. The business has a fifty day simple moving average of $152.25 and a 200-day simple moving average of $152.57. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The company has a market cap of $69.49 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

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

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.98%. Target’s dividend payout ratio is currently 50.28%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TGT. Bank of America upped their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Melius Research assumed coverage on Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective on the stock. Finally, Citigroup upped their price objective on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

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.