Maryland State Retirement & Pension System Purchases 671 Shares of Target Co. (NYSE:TGT)

Maryland State Retirement & Pension System raised its stake in Target Co. (NYSE:TGT) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,807 shares of the retailer’s stock after purchasing an additional 671 shares during the period. Maryland State Retirement & Pension System’s holdings in Target were worth $5,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Tower View Wealth Management LLC lifted its holdings in Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after acquiring an additional 106 shares during the period. Rakuten Securities Inc. purchased a new position in shares of Target during the 4th quarter worth $29,000. Friedenthal Financial purchased a new position in shares of Target during the 4th quarter worth $45,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Target during the 4th quarter worth $49,000. Finally, MV Capital Management Inc. grew its holdings in shares of Target by 200.8% during the 4th quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock worth $51,000 after purchasing an additional 241 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock valued at $8,819,598 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TGT shares. Truist Financial increased their target price on Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Jefferies Financial Group increased their target price on Target from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. BMO Capital Markets increased their target price on Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. Gordon Haskett increased their target price on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft raised Target from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $206.00 in a research note on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Performance

NYSE:TGT traded up $0.36 during trading hours on Monday, reaching $158.40. 3,314,022 shares of the company’s stock were exchanged, compared to its average volume of 3,689,031. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $73.28 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 1.48 and a beta of 1.17. The company has a 50-day moving average of $166.63 and a 200 day moving average of $145.54.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 earnings per share. Research analysts anticipate that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

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.