Target Co. (NYSE:TGT) Shares Acquired by Okabena Investment Services Inc.

Okabena Investment Services Inc. boosted its stake in Target Co. (NYSE:TGT) by 469.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 158,775 shares of the retailer’s stock after acquiring an additional 130,894 shares during the quarter. Target accounts for about 7.0% of Okabena Investment Services Inc.’s portfolio, making the stock its 2nd biggest holding. Okabena Investment Services Inc.’s holdings in Target were worth $24,747,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC purchased a new stake in Target during the 2nd quarter worth approximately $25,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target during the second quarter worth approximately $28,000. Hobbs Group Advisors LLC acquired a new position in Target in the 2nd quarter valued at $31,000. Wolff Wiese Magana LLC lifted its holdings in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Target in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing 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 that occurred 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 completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 over the last 90 days. 0.15% of the stock is owned by insiders.

Target Stock Performance

NYSE:TGT opened at $125.01 on Friday. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The company has a fifty day simple moving average of $151.27 and a two-hundred day simple moving average of $149.61. The company has a quick ratio of 0.27, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a market cap of $57.59 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 earnings per share. As a group, equities analysts anticipate that Target Co. will post 9.58 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.58%. Target’s dividend payout ratio (DPR) is 47.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TGT shares. Bank of America reduced their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday. Roth Mkm cut their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday. UBS Group boosted their target price on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a research report on Wednesday. Finally, Piper Sandler reduced their price objective on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Target has an average rating of “Moderate Buy” and a consensus target price of $162.13.

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.