Shariaportfolio Inc. Purchases New Holdings in Target Co. (NYSE:TGT)

Shariaportfolio Inc. purchased a new stake in shares of Target Co. (NYSE:TGT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,842 shares of the retailer’s stock, valued at approximately $1,690,000. Target comprises about 0.9% of Shariaportfolio Inc.’s investment portfolio, making the stock its 20th largest holding.

Several other hedge funds also recently added to or reduced their stakes in TGT. Boston Partners bought a new position in Target in the 1st quarter worth about $335,870,000. AQR Capital Management LLC lifted its position in shares of Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after purchasing an additional 768,479 shares during the period. Swedbank AB purchased a new position in shares of Target in the first quarter worth $107,367,000. Clearbridge Investments LLC raised its holdings in shares of Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after buying an additional 470,647 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Target by 11.4% in the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after buying an additional 440,307 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Target

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 sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Matthew A. Liegel sold 1,000 shares of the company’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 owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.23% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $150.91 on Tuesday. 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 has a market capitalization of $69.82 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.99 and a beta of 1.24. The company’s 50-day moving average is $152.57 and its two-hundred day moving average is $152.42. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86.

Target (NYSE:TGT) last announced its earnings results 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 the consensus estimate of $25.19 billion. During the same period in the prior year, the firm earned $1.80 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

Analyst Ratings Changes

TGT has been the subject of a number of research analyst reports. Melius Research initiated coverage on shares of Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target for the company. Citigroup raised their price target on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. UBS Group increased their price objective on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Monday, August 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 price objective on shares of Target in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.30.

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.