River Global Investors LLP Boosts Holdings in Target Co. (NYSE:TGT)

River Global Investors LLP lifted its stake in Target Co. (NYSE:TGT) by 4.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,460 shares of the retailer’s stock after buying an additional 654 shares during the quarter. River Global Investors LLP’s holdings in Target were worth $2,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. QRG Capital Management Inc. lifted its holdings in Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after acquiring an additional 6,690 shares during the period. TAP Consulting LLC acquired a new position in Target in the third quarter valued at approximately $2,403,000. Olstein Capital Management L.P. lifted its holdings in Target by 8.7% in the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock valued at $7,793,000 after acquiring an additional 4,000 shares during the period. Janus Henderson Group PLC lifted its holdings in Target by 20.5% in the first quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock valued at $38,484,000 after acquiring an additional 36,941 shares during the period. Finally, Eagle Rock Investment Company LLC lifted its holdings in Target by 166.3% in the third quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock valued at $2,522,000 after acquiring an additional 10,103 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Down 0.7 %

Shares of NYSE TGT traded down $1.13 during mid-day trading on Friday, reaching $149.78. 3,323,610 shares of the company’s stock were exchanged, compared to its average volume of 3,336,026. The firm has a market capitalization of $69.00 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.90 and a beta of 1.24. 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 Co. has a 52-week low of $105.23 and a 52-week high of $181.86. The company’s 50-day moving average is $152.39 and its 200-day moving average is $150.84.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 EPS. Analysts expect that Target Co. will post 9.54 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TGT. Evercore ISI reduced their target price on Target from $170.00 to $165.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their target price on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Bank of America upped their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Monday, August 26th. Finally, Royal Bank of Canada upped their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the 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 transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Corporate insiders own 0.15% of the company’s stock.

About Target

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.