OVERSEA CHINESE BANKING Corp Ltd Purchases New Holdings in Target Co. (NYSE:TGT)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Target Co. (NYSE:TGT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,252 shares of the retailer’s stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after purchasing an additional 1,981,458 shares in the last quarter. Boston Partners bought a new position in Target in the 1st quarter valued at about $335,870,000. AQR Capital Management LLC increased its holdings in Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after buying an additional 768,479 shares during the period. Swedbank AB acquired a new position in shares of Target in the 1st quarter valued at approximately $107,367,000. Finally, Clearbridge Investments LLC lifted its holdings 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 acquiring an additional 470,647 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Target

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 value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing 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 that occurred 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 transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard H. Gomez sold 6,348 shares of Target 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 sale, the insider now directly 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. Over the last ninety days, insiders sold 52,348 shares of company stock valued at $8,290,995. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TGT shares. Wells Fargo & Company lifted their price objective on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein started coverage on Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target for the company. Truist Financial upped their price objective on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus increased their target price on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Target Stock Performance

Shares of Target stock opened at $154.99 on Thursday. The company has a market cap of $71.40 billion, a P/E ratio of 16.01, a PEG ratio of 2.01 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $152.46 and a two-hundred day moving average price of $150.49. Target Co. has a 1-year low of $108.08 and a 1-year high of $181.86.

Target (NYSE:TGT) last issued 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. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.80 earnings per share. As a group, analysts anticipate that Target Co. will post 9.54 EPS for the current 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. This represents a $4.48 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 46.28%.

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.