Central Pacific Bank Trust Division Has $1.59 Million Holdings in Target Co. (NYSE:TGT)

Central Pacific Bank Trust Division raised its position in shares of Target Co. (NYSE:TGT) by 45.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,192 shares of the retailer’s stock after acquiring an additional 3,190 shares during the period. Central Pacific Bank Trust Division’s holdings in Target were worth $1,589,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in Target in the 2nd quarter valued at $25,000. Washington Trust Advisors Inc. boosted its holdings in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Slocum Gordon & Co LLP acquired a new position in shares of Target during the 2nd quarter worth approximately $28,000. Retirement Group LLC increased its holdings in shares of Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after purchasing an additional 91 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Target in the fourth quarter valued at approximately $28,000. Institutional investors own 79.73% of the company’s stock.

Insider Activity

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target 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 completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock worth $8,290,995 over the last quarter. 0.23% of the stock is currently owned by corporate insiders.

Target Price Performance

Shares of TGT opened at $150.40 on Thursday. The firm has a market cap of $69.58 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The business’s 50 day moving average price is $148.96 and its two-hundred day moving average price is $154.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last issued its 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. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates 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. On average, equities analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Target Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.98%. Target’s dividend payout ratio (DPR) is presently 50.28%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Oppenheimer lowered their price objective on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 price target on shares of Target in a research note on Thursday, September 19th. Truist Financial increased 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. Bank of America boosted their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group increased their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

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.