Umpqua Bank Increases Position in Target Co. (NYSE:TGT)

Umpqua Bank lifted its holdings in Target Co. (NYSE:TGT) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,710 shares of the retailer’s stock after buying an additional 529 shares during the quarter. Umpqua Bank’s holdings in Target were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Triad Wealth Partners LLC bought a new position in Target in the 2nd quarter worth about $25,000. Godsey & Gibb Inc. boosted its holdings in shares of Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Washington Trust Advisors Inc. grew its stake in 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 in the last quarter. Slocum Gordon & Co LLP purchased a new position in Target during the 2nd quarter worth $28,000. Finally, Retirement Group LLC raised its position in Target by 85.0% during the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after purchasing an additional 91 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Target Stock Performance

Shares of TGT opened at $151.28 on Friday. The stock has a 50-day moving average of $147.63 and a two-hundred day moving average of $155.09. 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 stock has a market cap of $69.99 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a one year low of $102.93 and a one year high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. Target’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts predict that Target Co. will post 9.49 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is 50.28%.

Analysts Set New Price Targets

TGT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Piper Sandler initiated coverage on shares of Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target for the company. BMO Capital Markets lowered their price target on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Finally, StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.68.

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.