State of New Jersey Common Pension Fund D Increases Holdings in Target Co. (NYSE:TGT)

State of New Jersey Common Pension Fund D raised its stake in Target Co. (NYSE:TGT) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,892 shares of the retailer’s stock after acquiring an additional 409 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Target were worth $26,479,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TGT. Triad Wealth Partners LLC bought a new position in shares of Target in the second quarter worth approximately $25,000. Slocum Gordon & Co LLP purchased a new stake in Target during the 2nd quarter valued at $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Target in the 2nd quarter worth $31,000. Washington Trust Advisors Inc. raised its stake in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on TGT. Oppenheimer decreased their target price on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Citigroup increased their price objective on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Truist Financial lifted 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. TD Cowen increased their price target on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Melius Research began coverage on Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average target price of $179.47.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’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 transaction, the insider now 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 at this link. Also, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction 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 completion of the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 over the last quarter. 0.15% of the stock is owned by company insiders.

Target Trading Down 0.7 %

Shares of TGT traded down $1.13 during mid-day trading on Friday, reaching $149.78. The stock had a trading volume of 3,323,610 shares, compared to its average volume of 3,336,026. The business’s fifty day moving average is $152.39 and its 200 day moving average is $150.73. The firm has a market cap of $69.00 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $25.19 billion. During the same quarter last year, the firm earned $1.80 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Target Co. will post 9.54 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued 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 2.99%. Target’s dividend payout ratio (DPR) is presently 46.28%.

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.