Target Co. (NYSE:TGT) Stake Increased by Okabena Investment Services Inc.

Okabena Investment Services Inc. boosted its position in Target Co. (NYSE:TGT) by 469.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,775 shares of the retailer’s stock after purchasing an additional 130,894 shares during the period. Target makes up approximately 7.0% of Okabena Investment Services Inc.’s investment portfolio, making the stock its 2nd biggest holding. Okabena Investment Services Inc.’s holdings in Target were worth $24,747,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Legal & General Group Plc increased its stake in Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after buying an additional 279,656 shares during the period. Victory Capital Management Inc. grew its stake in Target by 11.4% in the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after acquiring an additional 440,307 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Target by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after acquiring an additional 435,229 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Target by 9.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock worth $458,131,000 after acquiring an additional 272,521 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Target by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock valued at $475,914,000 after acquiring an additional 56,695 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TGT shares. HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 price objective on the stock. in a report on Wednesday. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. StockNews.com lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Truist Financial increased their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, UBS Group boosted their price target on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

Insider Buying and Selling at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’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 transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 12.90 % decrease in their ownership of the stock. 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. Insiders own 0.15% of the company’s stock.

Target Stock Up 2.8 %

Shares of TGT stock opened at $125.01 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.94. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The firm has a market capitalization of $57.59 billion, a PE ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. The stock’s 50-day simple moving average is $151.27 and its 200-day simple moving average is $149.61.

Target (NYSE:TGT) last posted 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 business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 earnings per share. Equities analysts expect that Target Co. will post 9.58 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is 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.