M&T Bank Corp Has $66.51 Million Position in Target Co. (NYSE:TGT)

M&T Bank Corp trimmed its position in Target Co. (NYSE:TGT) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 426,742 shares of the retailer’s stock after selling 22,218 shares during the period. M&T Bank Corp owned approximately 0.09% of Target worth $66,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in shares of Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares in the last quarter. D.A. Davidson & CO. raised its stake in Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after buying an additional 9,510 shares during the period. Prana Capital Management LP lifted its holdings in Target by 47.5% during the third quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after acquiring an additional 69,885 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in Target in the third quarter valued at about $967,000. Finally, TAP Consulting LLC bought a new stake in shares of Target in the third quarter worth about $2,403,000. Institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s 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 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 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TGT. Piper Sandler cut their price objective on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a report on Wednesday, November 20th. Jefferies Financial Group raised their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. UBS Group upped their target price on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $160.30.

Target Trading Up 2.2 %

Shares of Target stock opened at $135.24 on Tuesday. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a market capitalization of $61.97 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 2.17 and a beta of 1.17. The business has a fifty day simple moving average of $145.97 and a two-hundred day simple moving average of $147.52. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last posted its earnings results 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). The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 EPS. Research analysts forecast that Target Co. will post 8.6 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. 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 3.31%. Target’s dividend payout ratio (DPR) is currently 47.51%.

Target Company 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.