Oppenheimer & Co. Inc. Acquires 24,325 Shares of Target Co. (NYSE:TGT)

Oppenheimer & Co. Inc. increased its holdings in shares of Target Co. (NYSE:TGT) by 53.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,262 shares of the retailer’s stock after acquiring an additional 24,325 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Target were worth $10,951,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TGT. Financial Advocates Investment Management increased its position in Target by 1.2% during the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the last quarter. Integral Investment Advisors Inc. increased its holdings in shares of Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares in the last quarter. Trust Co. of Vermont raised its position in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after purchasing an additional 69 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its stake in Target by 9.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the retailer’s stock worth $119,000 after purchasing an additional 71 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business’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 value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last 90 days. Company insiders own 0.15% of the company’s stock.

Target Trading Down 0.4 %

Shares of NYSE:TGT opened at $154.99 on Thursday. Target Co. has a 12-month low of $108.08 and a 12-month high of $181.86. The company has a market cap of $71.40 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. The stock has a 50 day moving average of $152.46 and a 200 day moving average of $150.49. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last announced its quarterly earnings data 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 net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the prior year, the company posted $1.80 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Target Co. will post 9.54 EPS for the current year.

Target Announces Dividend

The firm 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 $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. Target’s payout ratio is 46.28%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TGT. TD Cowen raised their price objective on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Bank of America raised their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Daiwa America raised Target to a “strong-buy” rating in a research report on Monday, August 26th. Citigroup increased their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.47.

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.