SouthState Corp Has $377,000 Stock Holdings in Target Co. (NYSE:TGT)

SouthState Corp cut its position in Target Co. (NYSE:TGT) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,420 shares of the retailer’s stock after selling 335 shares during the period. SouthState Corp’s holdings in Target were worth $377,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TGT. TAP Consulting LLC bought a new position in Target in the 3rd quarter valued at about $2,403,000. Olstein Capital Management L.P. lifted its position in Target by 8.7% in the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock valued at $7,793,000 after acquiring an additional 4,000 shares in the last quarter. Smead Capital Management Inc. lifted its position in Target by 3.4% in the 3rd quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer’s stock valued at $193,879,000 after acquiring an additional 41,394 shares in the last quarter. Janus Henderson Group PLC lifted its position in Target by 20.5% in the 1st quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock valued at $38,484,000 after acquiring an additional 36,941 shares in the last quarter. Finally, Eagle Rock Investment Company LLC lifted its position in Target by 166.3% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock valued at $2,522,000 after acquiring an additional 10,103 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Wednesday, November 13th. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Morgan Stanley reissued an “overweight” rating and set a $180.00 target price on shares of Target in a research report on Wednesday, August 21st. Finally, Daiwa America raised shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.47.

Target Stock Performance

NYSE TGT opened at $156.00 on Wednesday. Target Co. has a 52-week low of $128.37 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a market capitalization of $71.87 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.98 and a beta of 1.24. The company has a fifty day moving average of $152.84 and a 200-day moving average of $150.32.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the previous year, the firm posted $1.80 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Target Co. will post 9.55 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

Insiders Place Their Bets

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 over the last three months. Insiders own 0.15% of the company’s stock.

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.