First Financial Bankshares Inc Lowers Holdings in Target Co. (NYSE:TGT)

First Financial Bankshares Inc decreased its position in Target Co. (NYSE:TGT) by 8.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,126 shares of the retailer’s stock after selling 203 shares during the quarter. First Financial Bankshares Inc’s holdings in Target were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TGT. Triad Wealth Partners LLC bought a new position in Target in the 2nd quarter valued at $25,000. Slocum Gordon & Co LLP purchased a new position in shares of Target in the second quarter worth about $28,000. Hobbs Group Advisors LLC purchased a new position in shares of Target in the second quarter worth about $31,000. Washington Trust Advisors Inc. raised its stake 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 during the last quarter. Finally, Wolff Wiese Magana LLC raised its position in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.7 %

TGT opened at $151.16 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $153.38 and its 200 day simple moving average is $151.82. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The stock has a market cap of $69.93 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same period in the prior year, the firm posted $1.80 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts expect that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 50.28%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Truist Financial raised their price objective on Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. UBS Group boosted their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein started coverage on Target in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. Stifel Nicolaus boosted their price objective on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada lifted their target price on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and an average target price of $179.47.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction on Friday, September 27th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is owned by corporate insiders.

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.