Target Co. (NYSE:TGT) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its stake in shares of Target Co. (NYSE:TGT) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,506 shares of the retailer’s stock after selling 1,800 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Target were worth $5,689,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TGT. FSM Wealth Advisors LLC increased its holdings in shares of Target by 6.9% in the third quarter. FSM Wealth Advisors LLC now owns 1,774 shares of the retailer’s stock valued at $276,000 after purchasing an additional 115 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Target in the third quarter valued at approximately $38,000. Rational Advisors LLC acquired a new position in Target in the 3rd quarter worth approximately $818,000. Impax Asset Management Group plc raised its position in Target by 8.6% during the 3rd quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer’s stock worth $37,632,000 after buying an additional 19,095 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Target by 52.2% during the 3rd quarter. QRG Capital Management Inc. now owns 103,971 shares of the retailer’s stock valued at $16,205,000 after acquiring an additional 35,674 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’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 value of $153,130.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TGT shares. TD Cowen increased their price target on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler assumed coverage on Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target for the company. StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group lifted their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Melius Research initiated coverage on shares of Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

Target Trading Up 0.7 %

NYSE TGT opened at $151.07 on Wednesday. Target Co. has a 52 week low of $105.23 and a 52 week high of $181.86. The firm has a 50 day moving average of $152.71 and a two-hundred day moving average of $150.99. The stock has a market capitalization of $69.59 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the previous year, the business earned $1.80 EPS. Target’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts expect that Target Co. will post 9.54 EPS 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 given a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.97%. Target’s dividend payout ratio 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.