Harbour Investments Inc. Increases Stock Position in Target Co. (NYSE:TGT)

Harbour Investments Inc. boosted its stake in Target Co. (NYSE:TGT) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,345 shares of the retailer’s stock after acquiring 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in shares of Target in the second quarter valued at about $25,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target in the second quarter valued at about $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Target in the second quarter valued at about $31,000. Wolff Wiese Magana LLC raised its holdings in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Target in the second quarter valued at about $37,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT opened at $153.46 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a market capitalization of $70.69 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.01 and a beta of 1.24. The company’s 50 day simple moving average is $152.51 and its 200 day simple moving average is $150.52. Target Co. has a 1 year low of $124.88 and a 1 year high of $181.86.

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, beating the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 earnings per share. On average, sell-side analysts predict that Target Co. will post 9.54 EPS for the current year.

Target Dividend Announcement

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 paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 46.28%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Monday, August 26th. Roth Mkm increased their price target on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Melius Research started coverage on shares of Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. One investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.47.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of Target 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 transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 12.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction 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 transaction, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 4.89 % decrease in their position. 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. Company insiders own 0.15% of the company’s stock.

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.