The Manufacturers Life Insurance Company Has $85.62 Million Stake in Target Co. (NYSE:TGT)

The Manufacturers Life Insurance Company raised its position in Target Co. (NYSE:TGT) by 3.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 549,363 shares of the retailer’s stock after purchasing an additional 19,790 shares during the period. The Manufacturers Life Insurance Company’s holdings in Target were worth $85,624,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Target by 20.5% during the 1st 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. LRI Investments LLC acquired a new position in shares of Target during the 1st quarter valued at $77,000. Swedbank AB acquired a new position in shares of Target during the 1st quarter valued at $107,367,000. Invst LLC lifted its position in shares of Target by 33.5% during the 1st quarter. Invst LLC now owns 11,586 shares of the retailer’s stock valued at $2,060,000 after acquiring an additional 2,908 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Target by 163.6% during the 1st quarter. Cetera Investment Advisers now owns 168,426 shares of the retailer’s stock valued at $29,847,000 after acquiring an additional 104,529 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT opened at $130.11 on Thursday. The company has a market cap of $59.94 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm’s 50-day simple moving average is $149.84 and its two-hundred day simple moving average is $148.92.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $2.10 earnings per share. Research analysts predict that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s 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 $1,114,173.88. This represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TGT. StockNews.com downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective on the stock. in a report on Wednesday, November 20th. Truist Financial upped their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Stifel Nicolaus lowered their price objective on shares of Target from $165.00 to $137.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Finally, Oppenheimer restated an “outperform” rating and set a $165.00 price objective on shares of Target in a report on Monday. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $160.30.

Target Company 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.