Target Co. (NYSE:TGT) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Target Co. (NYSE:TGT) by 59.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,439 shares of the retailer’s stock after purchasing an additional 33,146 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Target were worth $13,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TGT. Triad Wealth Partners LLC acquired a new position in Target in the 2nd quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Target in the 4th quarter worth approximately $28,000. Slocum Gordon & Co LLP acquired a new position in shares of Target in the 2nd quarter worth approximately $28,000. Scarborough Advisors LLC acquired a new position in shares of Target in the 4th quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Target in the 2nd quarter worth approximately $31,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Melius Research assumed coverage on shares of Target in a report on Monday. They issued a “buy” rating and a $180.00 price objective on the stock. Oppenheimer decreased their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Evercore ISI upped their price objective on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a report on Thursday, August 22nd. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Finally, Jefferies Financial Group upped their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Target Trading Up 0.6 %

NYSE TGT opened at $156.18 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The firm’s fifty day moving average price is $148.58 and its 200 day moving average price is $154.64. The company has a market capitalization of $72.25 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last posted 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. The firm had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $1.80 EPS. On average, sell-side analysts expect that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 50.28%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Brian C. Cornell sold 45,000 shares of the 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 sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the 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 sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Target Company 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.