Harbour Investments Inc. Grows Holdings in Target Co. (NYSE:TGT)

Harbour Investments Inc. increased its position in shares of Target Co. (NYSE:TGT) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,345 shares of the retailer’s stock after buying an additional 205 shares during the period. Harbour Investments Inc.’s holdings in Target were worth $1,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC purchased a new stake in Target during the 2nd quarter worth $25,000. Slocum Gordon & Co LLP purchased a new stake in Target during the 2nd quarter worth $28,000. Hobbs Group Advisors LLC purchased a new stake in Target during the 2nd quarter worth $31,000. Wolff Wiese Magana LLC increased its stake in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Target during the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 1.0 %

TGT stock opened at $153.46 on Friday. Target Co. has a 52-week low of $124.88 and a 52-week high of $181.86. The company’s 50 day simple moving average is $152.51 and its 200-day simple moving average is $150.52. 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 firm has a market capitalization of $70.69 billion, a P/E ratio of 15.85, a P/E/G ratio of 2.01 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.80 earnings per share. As a group, equities research analysts anticipate that Target Co. will post 9.54 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.92%. Target’s dividend payout ratio is presently 46.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Truist Financial boosted their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Royal Bank of Canada boosted their target price on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Citigroup boosted their target price on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm boosted their target price on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Finally, UBS Group boosted 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and an average price target of $179.47.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, 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. In the last quarter, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is currently owned by company insiders.

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.