Clearbridge Investments LLC Acquires 7,497 Shares of Target Co. (NYSE:TGT)

Clearbridge Investments LLC raised its holdings in shares of Target Co. (NYSE:TGT) by 0.2% during the second quarter, HoldingsChannel reports. The fund owned 3,161,372 shares of the retailer’s stock after purchasing an additional 7,497 shares during the quarter. Clearbridge Investments LLC’s holdings in Target were worth $468,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Washington Trust Advisors Inc. increased its holdings 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 period. Williams Jones Wealth Management LLC. increased its holdings in shares of Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after purchasing an additional 68 shares during the period. Beacon Capital Management LLC increased its holdings in shares of Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after purchasing an additional 69 shares during the period. Integral Investment Advisors Inc. increased its holdings in shares of Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after purchasing an additional 69 shares during the period. Finally, Haverford Trust Co increased its holdings in shares of Target by 0.3% in the first quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock worth $4,868,000 after purchasing an additional 70 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of NYSE:TGT opened at $155.86 on Tuesday. The company has a market cap of $72.11 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The company has a 50-day moving average price of $148.85 and a 200-day moving average price of $154.33. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results 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 prior year, the firm earned $1.80 earnings per share. Target’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The firm 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 dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is 50.28%.

Wall Street Analyst Weigh In

TGT has been the topic of several research analyst reports. Royal Bank of Canada upped their price target on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler started coverage on shares of Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. Evercore ISI upped their target price on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 target price on shares of Target in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Insider Buying and Selling at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,348 shares of company stock valued at $8,290,995. Corporate insiders own 0.23% of the company’s stock.

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.