Ensign Peak Advisors Inc Lowers Position in Target Co. (NYSE:TGT)

Ensign Peak Advisors Inc reduced its position in shares of Target Co. (NYSE:TGT) by 14.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,780 shares of the retailer’s stock after selling 43,171 shares during the period. Ensign Peak Advisors Inc owned approximately 0.05% of Target worth $37,125,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in shares of Target during the 1st quarter worth approximately $335,870,000. Focused Investors Fund L P purchased a new position in Target in the first quarter worth $125,536,000. Swedbank AB acquired a new stake in Target in the first quarter valued at $107,367,000. Los Angeles Capital Management LLC lifted its holdings in Target by 44.6% in the first quarter. Los Angeles Capital Management LLC now owns 1,765,496 shares of the retailer’s stock valued at $312,864,000 after acquiring an additional 544,920 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after purchasing an additional 470,647 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Down 1.1 %

Shares of NYSE:TGT opened at $154.75 on Friday. The stock has a 50-day simple moving average of $148.48 and a 200-day simple moving average of $154.98. The stock has a market capitalization of $71.59 billion, a P/E ratio of 17.37, a PEG ratio of 1.90 and a beta of 1.24. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) 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 company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the previous 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. Equities analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts recently commented on the stock. Bank of America raised their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Truist Financial lifted their price objective on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a report on Monday, August 26th. Oppenheimer cut their price target on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Target in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.