Impax Asset Management Group plc Purchases 19,095 Shares of Target Co. (NYSE:TGT)

Impax Asset Management Group plc grew its position in shares of Target Co. (NYSE:TGT) by 8.6% in the third quarter, Holdings Channel reports. The fund owned 241,447 shares of the retailer’s stock after buying an additional 19,095 shares during the quarter. Impax Asset Management Group plc’s holdings in Target were worth $37,632,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. QRG Capital Management Inc. raised its stake in Target by 52.2% during the third quarter. QRG Capital Management Inc. now owns 103,971 shares of the retailer’s stock valued at $16,205,000 after purchasing an additional 35,674 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Target by 6.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 182,342 shares of the retailer’s stock worth $28,420,000 after buying an additional 10,281 shares during the last quarter. National Pension Service raised its position in shares of Target by 24.7% during the 3rd quarter. National Pension Service now owns 1,049,901 shares of the retailer’s stock valued at $163,638,000 after buying an additional 208,195 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Target by 5.3% in the 3rd quarter. Forum Financial Management LP now owns 3,006 shares of the retailer’s stock valued at $468,000 after acquiring an additional 152 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Target by 4.3% during the third quarter. Van ECK Associates Corp now owns 135,908 shares of the retailer’s stock worth $20,121,000 after acquiring an additional 5,548 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TGT. JPMorgan Chase & Co. raised their price objective on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. TD Cowen lifted their price objective on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Oppenheimer reduced their target price on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a report on Monday, August 26th. Finally, UBS Group upped their price target on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.47.

Insider Activity at Target

In other Target news, 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 transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target 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 completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $149.99 on Tuesday. 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 company has a market cap of $69.10 billion, a P/E ratio of 15.49, a PEG ratio of 1.94 and a beta of 1.24. The stock’s 50-day moving average is $152.86 and its 200 day moving average is $151.11. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86.

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

Target Announces Dividend

The business also recently disclosed 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 of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 46.28%.

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.