Target Co. (NYSE:TGT) Stock Position Reduced by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its position in Target Co. (NYSE:TGT) by 17.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,728 shares of the retailer’s stock after selling 577 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Target were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TGT. Triad Wealth Partners LLC acquired a new stake in shares of Target during the second quarter worth $25,000. Slocum Gordon & Co LLP acquired a new position in Target in the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC bought a new position in shares of Target during the second quarter valued at approximately $31,000. Wolff Wiese Magana LLC raised its position in shares of Target by 156.5% during the 3rd 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 period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Target during the second quarter valued at $37,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Up 1.8 %

NYSE:TGT opened at $132.39 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock has a market cap of $60.99 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 2.13 and a beta of 1.24. The stock’s 50-day moving average is $148.86 and its two-hundred day moving average is $148.59. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.38%. Target’s dividend payout ratio is currently 47.51%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Sanford C. Bernstein initiated coverage on shares of Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Evercore ISI lowered their price objective on shares of Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday, November 21st. Finally, Roth Mkm cut their target price on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. One 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. Based on data from MarketBeat, Target currently has an average rating of “Hold” and an average target price of $160.30.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction 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 $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

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.