Target Co. (NYSE:TGT) Stake Boosted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its position in shares of Target Co. (NYSE:TGT) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 980,103 shares of the retailer’s stock after acquiring an additional 4,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Target were worth $145,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new stake in shares of Target during the 2nd quarter worth about $25,000. Ables Iannone Moore & Associates Inc. bought a new position in Target during the fourth quarter valued at approximately $28,000. Slocum Gordon & Co LLP acquired a new stake in Target in the second quarter valued at approximately $28,000. Scarborough Advisors LLC acquired a new stake in Target in the fourth quarter valued at approximately $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in Target in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 1.1 %

Shares of NYSE TGT opened at $154.75 on Friday. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The firm’s 50-day moving average is $148.48 and its 200-day moving average is $155.08. 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 firm has a market capitalization of $71.59 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

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

Target Dividend Announcement

The company also recently announced 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 2.89%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is presently 50.28%.

Insiders Place Their Bets

In related news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated 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 directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TGT. StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Roth Mkm boosted their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a report on Monday, August 26th. Truist Financial boosted their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have assigned 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 $179.68.

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.