Griffin Asset Management Inc. Has $5.22 Million Holdings in Target Corporation $TGT

Griffin Asset Management Inc. cut its stake in Target Corporation (NYSE:TGT) by 18.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,107 shares of the retailer’s stock after selling 9,788 shares during the period. Griffin Asset Management Inc.’s holdings in Target were worth $5,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. WFA of San Diego LLC bought a new position in shares of Target during the 2nd quarter worth about $25,000. Jessup Wealth Management Inc bought a new stake in shares of Target in the fourth quarter valued at about $25,000. Altshuler Shaham Ltd bought a new stake in shares of Target in the fourth quarter valued at about $26,000. Capital Advisors Ltd. LLC grew its position in Target by 245.6% during the first quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer’s stock worth $33,000 after buying an additional 194 shares in the last quarter. Finally, Global Wealth Strategies & Associates increased its stake in Target by 192.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after acquiring an additional 192 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Royal Bank Of Canada upped their price target on Target from $132.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Wells Fargo & Company boosted their price objective on Target from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Sanford C. Bernstein restated a “market perform” rating on shares of Target in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $123.00 target price on shares of Target in a research report on Friday, May 15th. Finally, Evercore set a $130.00 price target on shares of Target in a report on Monday, May 18th. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $130.64.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Target Stock Performance

Target stock opened at $132.11 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The stock has a fifty day moving average price of $128.26 and a two-hundred day moving average price of $118.87. Target Corporation has a 52-week low of $83.44 and a 52-week high of $142.82. The firm has a market capitalization of $60.00 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.59 and a beta of 0.98.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The company had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, analysts anticipate that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target’s dividend payout ratio (DPR) is presently 60.24%.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.