Oak Harvest Investment Services Invests $6.67 Million in Target Co. (NYSE:TGT)

Oak Harvest Investment Services acquired a new stake in shares of Target Co. (NYSE:TGT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,792 shares of the retailer’s stock, valued at approximately $6,670,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Target by 23.6% during the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after acquiring an additional 122,706 shares during the last quarter. QRG Capital Management Inc. increased its position in Target by 11.4% during the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after purchasing an additional 6,690 shares during the last quarter. Janney Capital Management LLC purchased a new position in Target during the first quarter worth approximately $13,958,000. Van ECK Associates Corp boosted its holdings in shares of Target by 17.3% in the 1st quarter. Van ECK Associates Corp now owns 55,392 shares of the retailer’s stock valued at $9,816,000 after purchasing an additional 8,185 shares during the last quarter. Finally, TAP Consulting LLC purchased a new stake in shares of Target during the 3rd quarter valued at $2,403,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TGT. Roth Mkm lifted their target price on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Jefferies Financial Group lifted their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company increased their target price on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Citigroup lifted their price target on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Truist Financial increased their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Insiders Place Their Bets

In other news, 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s 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 completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock valued at $8,290,995 over the last three months. Company insiders own 0.15% of the company’s stock.

Target Stock Up 0.4 %

TGT stock opened at $148.50 on Thursday. The firm has a market cap of $68.41 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.99 and a beta of 1.24. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The firm has a fifty day moving average price of $153.33 and a two-hundred day moving average price of $151.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. 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 business earned $1.80 earnings per share. Target’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts predict that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.02%. Target’s payout ratio is currently 46.28%.

Target Profile

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.