Target Co. (NYSE:TGT) Shares Bought by Eastern Bank

Eastern Bank lifted its holdings in shares of Target Co. (NYSE:TGT) by 47.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,302 shares of the retailer’s stock after acquiring an additional 738 shares during the quarter. Eastern Bank’s holdings in Target were worth $359,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after acquiring an additional 51,639 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Target by 27.8% during the first quarter. Brookstone Capital Management now owns 13,802 shares of the retailer’s stock worth $2,446,000 after purchasing an additional 2,999 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Target in the first quarter valued at about $96,000. Key Client Fiduciary Advisors LLC bought a new stake in Target in the first quarter valued at about $239,000. Finally, Aspiriant LLC raised its stake in Target by 7.3% during the first quarter. Aspiriant LLC now owns 2,317 shares of the retailer’s stock valued at $411,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $148.04 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The firm’s 50 day moving average is $153.07 and its 200-day moving average is $152.23. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The stock has a market capitalization of $68.49 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.99 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 firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.80 earnings per share. Equities research analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.03%. Target’s dividend payout ratio (DPR) is 50.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TGT shares. UBS Group boosted their price target on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Sanford C. Bernstein assumed coverage on shares of Target in a report on Tuesday. They set a “market perform” rating and a $168.00 target price on the stock. Truist Financial lifted their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Roth Mkm raised their target price on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $195.00 target price on shares of Target in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.47.

Insider Buying and Selling

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

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.