Alerus Financial NA Decreases Holdings in Target Co. (NYSE:TGT)

Alerus Financial NA lessened its stake in shares of Target Co. (NYSE:TGT) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,876 shares of the retailer’s stock after selling 1,468 shares during the quarter. Alerus Financial NA’s holdings in Target were worth $5,280,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TGT. Triad Wealth Partners LLC acquired a new stake in shares of Target in the second quarter valued at approximately $25,000. Slocum Gordon & Co LLP purchased a new stake in Target in the 2nd quarter valued at $28,000. Hobbs Group Advisors LLC acquired a new stake in Target during the 2nd quarter worth $31,000. Wolff Wiese Magana LLC grew its position in 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 last quarter. Finally, FSA Wealth Management LLC acquired a new position in Target in the third quarter valued at $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred 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 owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

Target Stock Performance

Shares of TGT opened at $132.31 on Friday. The company has a 50-day moving average of $148.86 and a two-hundred day moving average of $148.51. The stock has a market cap of $60.95 billion, a P/E ratio of 14.03, a PEG ratio of 2.17 and a beta of 1.24. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

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 during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.10 EPS. As a group, research analysts predict that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is currently 47.51%.

Wall Street Analyst Weigh In

TGT has been the subject of several recent research reports. Melius Research assumed coverage on shares of Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 target price for the company. Roth Mkm decreased their price objective on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. TD Cowen dropped their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Bank of America decreased their price target on Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $160.30.

Target 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.