Arvest Bank Trust Division Takes $1.68 Million Position in Target Co. (NYSE:TGT)

Arvest Bank Trust Division acquired a new stake in shares of Target Co. (NYSE:TGT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,805 shares of the retailer’s stock, valued at approximately $1,684,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. World Investment Advisors LLC boosted its stake in Target by 142.5% in the third quarter. World Investment Advisors LLC now owns 6,585 shares of the retailer’s stock worth $1,026,000 after buying an additional 3,870 shares in the last quarter. Westside Investment Management Inc. raised its position in Target by 5.6% during the 3rd quarter. Westside Investment Management Inc. now owns 1,684 shares of the retailer’s stock valued at $257,000 after purchasing an additional 90 shares during the last quarter. Invst LLC lifted its stake in Target by 2.4% in the third quarter. Invst LLC now owns 11,760 shares of the retailer’s stock worth $1,833,000 after acquiring an additional 276 shares during the period. Soltis Investment Advisors LLC bought a new position in Target in the 3rd quarter worth $326,000. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Target by 234.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 7,237 shares of the retailer’s stock valued at $1,159,000 after purchasing an additional 5,072 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the business’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 approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. Guggenheim lowered their price target on shares of Target from $180.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Truist Financial raised their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price target on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, StockNews.com lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $160.57.

Target Stock Performance

TGT opened at $136.61 on Thursday. The company has a market cap of $62.60 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.17 and a beta of 1.17. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The firm’s fifty day simple moving average is $145.34 and its two-hundred day simple moving average is $147.37. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Wednesday, November 20th. Target’s dividend payout ratio is currently 47.51%.

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.