Target Co. (NYSE:TGT) Shares Purchased by Redpoint Investment Management Pty Ltd

Redpoint Investment Management Pty Ltd increased its stake in shares of Target Co. (NYSE:TGTGet Rating) by 3.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 13,880 shares of the retailer’s stock after purchasing an additional 481 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Target were worth $2,946,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. CNB Bank raised its stake in Target by 6.2% during the 1st quarter. CNB Bank now owns 8,065 shares of the retailer’s stock worth $1,712,000 after acquiring an additional 468 shares in the last quarter. CMH Wealth Management LLC raised its stake in Target by 5.1% during the 1st quarter. CMH Wealth Management LLC now owns 18,441 shares of the retailer’s stock worth $3,914,000 after acquiring an additional 903 shares in the last quarter. Meadow Creek Wealth Advisors LLC raised its stake in Target by 63.4% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 4,405 shares of the retailer’s stock worth $935,000 after acquiring an additional 1,709 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Target by 3.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,720 shares of the retailer’s stock worth $577,000 after acquiring an additional 82 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Target by 682.3% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 33,568 shares of the retailer’s stock worth $7,212,000 after acquiring an additional 29,277 shares in the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

Shares of NYSE:TGT traded up $0.60 on Thursday, reaching $141.41. 20,707 shares of the company’s stock were exchanged, compared to its average volume of 6,941,019. The firm has a market capitalization of $65.57 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.62 and a beta of 0.96. Target Co. has a fifty-two week low of $138.58 and a fifty-two week high of $268.98. The business’s 50-day moving average is $190.88 and its two-hundred day moving average is $209.86. The company has a quick ratio of 0.14, a current ratio of 0.87 and a debt-to-equity ratio of 1.24.

Target (NYSE:TGTGet Rating) last released its quarterly earnings data on Wednesday, May 18th. The retailer reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a return on equity of 44.75% and a net margin of 5.48%. The firm had revenue of $24.83 billion during the quarter, compared to analyst estimates of $24.48 billion. During the same period last year, the business earned $3.69 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. Analysts predict that Target Co. will post 8.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. This is a positive change from Target’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.05%. Target’s dividend payout ratio (DPR) is 29.85%.

In other Target news, insider Don H. Liu sold 18,674 shares of Target stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $219.00, for a total value of $4,089,606.00. Following the completion of the sale, the insider now directly owns 60,259 shares in the company, valued at $13,196,721. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cara A. Sylvester sold 2,030 shares of Target stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total transaction of $507,500.00. Following the completion of the sale, the insider now owns 7,891 shares of the company’s stock, valued at $1,972,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,694 shares of company stock valued at $14,055,746. Insiders own 0.29% of the company’s stock.

TGT has been the topic of a number of recent research reports. Guggenheim dropped their price objective on shares of Target from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. Barclays dropped their price objective on shares of Target from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 8th. Robert W. Baird dropped their price objective on shares of Target from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 8th. Truist Financial dropped their price objective on shares of Target from $171.00 to $150.00 and set a “hold” rating on the stock in a research note on Wednesday, June 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Target from $239.00 to $231.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 8th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $195.81.

About Target (Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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