July 3, 2023 – Stonegate Investment Group LLC Increases Holdings in Target Co. (NYSE: TGT) and Discloses Quarterly Dividend
In a recent disclosure with the Securities & Exchange Commission, Stonegate Investment Group LLC revealed that it has raised its holdings in Target Co. (NYSE:TGT) by 10.1% during the first quarter of this year. The investment firm now owns an impressive 24,334 shares of the renowned retailer’s stock after purchasing an additional 2,240 shares. At the end of the reporting period, Stonegate Investment Group LLC’s holdings in Target were valued at a remarkable $4,030,000.
This news reflects Stonegate Investment Group LLC’s continued confidence in Target’s performance and growth potential. By augmenting their stake in the company, Stonegate reaffirms its belief in Target’s ability to deliver significant returns to its investors.
Additionally, Target recently announced its quarterly dividend payout schedule. Investors who are recorded on Wednesday, August 16th will receive a dividend payment of $1.10 per share on Sunday, September 10th. This represents an increase from Target’s previous quarterly dividend of $1.08 per share—an encouraging sign for shareholders who rely on dividends as an integral part of their investment strategy.
The newly declared annualized dividend amounts to $4.40 per share and offers a noteworthy yield of 3.34%. This announcement depicts Target’s dedication to rewarding investors while also showcasing their commitment to maintaining shareholder value over time.
Moreover, it is worth noting that on Thursday, May 18th, CAO Matthew A. Liegel sold 1,459 shares of Target stock at an average price of $160.75 per share—generating a total transaction value of $234,534.25. Following this sale, Liegel holds approximately 3,748 shares worth approximately $602,491.
These developments provide an interesting insight into the activities and strategies of Target and its key stakeholders. As the company continues to innovate, expand its market presence, and deliver consistent value to its shareholders, these recent occurrences emphasize the evolving nature of the retail industry.
Target’s robust dividend payout ratio (DPR) stands at an impressive 73.59%, reflecting the company’s commitment to providing strong returns to its investors while also balancing growth opportunities. This balance demonstrates Target’s prudent financial management practices, which enable it to allocate resources effectively and maintain a competitive advantage in an ever-changing marketplace.
The Stonegate Investment Group LLC’s increased holdings in Target, combined with the announcement of a higher quarterly dividend payout, reinforces Target’s position as a reliable investment opportunity within the retail sector. The sale of stock by CAO Matthew A. Liegel further illustrates confidence among some insiders regarding their personal investment decisions.
As we move forward into a rapidly evolving economic landscape, investors are advised to monitor developments within companies like Target closely. By staying updated on strategic moves and financial progressions, investors can make informed decisions that align with their long-term investment goals.
In conclusion, Stonegate Investment Group LLC’s increased stake in Target Co., coupled with the declaration of a higher quarterly dividend distribution and CAO Matthew A. Liegel’s recent stock sale showcase various trends occurring within this dynamic sector. These events present intriguing perspectives for both existing shareholders and potential investors observing potential opportunities in the retail industry.
Disclaimer: The information contained in this article should not be construed as financial advice or any form of investment recommendation. Please perform your due diligence before making any investment decisions based on this article or seek advice from a professional financial advisor.
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Institutional Investors Show Steady Increase in Target Holdings
Target (NYSE:TGT), the renowned retailer, has recently attracted attention from various institutional investors and hedge funds. Among them, Vanguard Group Inc. increased its holdings in Target by 0.8% during the third quarter, which now stands at an impressive 42,833,900 shares valued at $6,356,122,000. Similarly, State Street Corp boosted its stake in Target by 2.6% during the same period and now owns 34,191,786 shares worth $5,073,719,000. The notable increase in holdings doesn’t stop there – Moneta Group Investment Advisors LLC witnessed a staggering growth of 95,980.3% in its shares of Target during the fourth quarter, bringing its total to 18,537,742 shares valued at an astounding $2,762,865,000.
These institutional investors’ bullishness on Target has undoubtedly made an impact on Geode Capital Management LLC as well. In the same period as Moneta Group’s extraordinary boost to their holdings in Target stock took place; Geode Capital Management LLC saw a moderate increase of 1.5%, pushing its total number of shares to 8,220,256 with a valuation of $1,222,866.