Target Co. (NYSE:TGT) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in shares of Target Co. (NYSE:TGT) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 980,103 shares of the retailer’s stock after buying an additional 4,000 shares during the period. Canada Pension Plan Investment Board owned approximately 0.21% of Target worth $145,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC purchased a new position in shares of Target in the 2nd quarter worth about $25,000. Washington Trust Advisors Inc. lifted its position in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Slocum Gordon & Co LLP purchased a new stake in Target during the second quarter worth approximately $28,000. Retirement Group LLC increased its position in shares of Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after acquiring an additional 91 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Down 1.1 %

TGT stock opened at $154.75 on Friday. The firm’s 50-day moving average is $148.48 and its two-hundred day moving average is $155.08. The company has a market capitalization of $71.59 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the prior year, the firm posted $1.80 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts forecast that Target Co. will post 9.53 earnings per share for the current fiscal 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 issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. Target’s dividend payout ratio is currently 50.28%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TGT shares. Piper Sandler started coverage on Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target for the company. Evercore ISI boosted their price target on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. UBS Group boosted their target price on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer dropped their price target on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.68.

Insider Activity

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

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.