Public Sector Pension Investment Board Boosts Stock Position in Target Co. (NYSE:TGT)

Public Sector Pension Investment Board raised its holdings in Target Co. (NYSE:TGT) by 12.9% in the third quarter, Holdings Channel.com reports. The fund owned 20,172 shares of the retailer’s stock after buying an additional 2,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Target were worth $3,144,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Target by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after acquiring an additional 62,916 shares in the last quarter. Fiduciary Trust Co lifted its position in Target by 2.1% in the 3rd quarter. Fiduciary Trust Co now owns 19,708 shares of the retailer’s stock valued at $3,072,000 after purchasing an additional 406 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Target by 1.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 204,885 shares of the retailer’s stock worth $31,933,000 after acquiring an additional 2,877 shares during the period. First Commonwealth Financial Corp PA raised its position in shares of Target by 6.0% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 3,539 shares of the retailer’s stock worth $552,000 after buying an additional 200 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in Target by 31.3% during the 3rd quarter. CreativeOne Wealth LLC now owns 5,877 shares of the retailer’s stock valued at $916,000 after purchasing an additional 1,402 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Cowen cut their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. UBS Group lifted their target price on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler reduced their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. BMO Capital Markets lowered their target price on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday, November 21st. Finally, Citigroup lowered shares of Target from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $188.00 to $130.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $160.30.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

Target Trading Up 0.5 %

NYSE TGT opened at $131.38 on Wednesday. The stock has a market capitalization of $60.20 billion, a P/E ratio of 13.93, a P/E/G ratio of 2.14 and a beta of 1.17. Target Co. has a one year low of $120.21 and a one year high of $181.86. The business has a 50 day simple moving average of $147.88 and a 200 day simple moving average of $148.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

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

Target Dividend Announcement

The company also recently announced 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. This represents a $4.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 47.51%.

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.