Gofen & Glossberg LLC IL Raises Stock Holdings in Target Co. (NYSE:TGT)

Gofen & Glossberg LLC IL lifted its holdings in shares of Target Co. (NYSE:TGTGet Rating) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,131 shares of the retailer’s stock after purchasing an additional 110 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Target were worth $2,419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TGT. Norges Bank bought a new stake in Target in the 4th quarter worth approximately $1,094,330,000. Capital World Investors grew its stake in shares of Target by 22.9% in the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after acquiring an additional 1,666,948 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Target by 73.9% in the first quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock worth $414,599,000 after acquiring an additional 808,485 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Target by 1,140.3% during the first quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock valued at $148,934,000 after buying an additional 645,209 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Target by 40.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,148,499 shares of the retailer’s stock valued at $497,249,000 after acquiring an additional 617,060 shares during the period. Hedge funds and other institutional investors own 77.42% of the company’s stock.

Insider Activity

In other news, CAO Matthew A. Liegel sold 1,226 shares of Target stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the sale, the chief accounting officer now owns 2,812 shares of the company’s stock, valued at $488,725.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Matthew A. Liegel sold 1,226 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now owns 2,812 shares in the company, valued at $488,725.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the transaction, the insider now owns 118,425 shares in the company, valued at approximately $19,660,918.50. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Target Trading Down 3.8 %

Shares of TGT opened at $152.96 on Friday. Target Co. has a twelve month low of $137.16 and a twelve month high of $268.98. The firm has a market capitalization of $70.40 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The company has a current ratio of 0.82, a quick ratio of 0.14 and a debt-to-equity ratio of 1.27. The stock’s fifty day simple moving average is $163.84 and its 200 day simple moving average is $182.03.

Target (NYSE:TGTGet Rating) last announced its quarterly earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.32). The company had revenue of $26.04 billion during the quarter, compared to analyst estimates of $26.07 billion. Target had a net margin of 3.92% and a return on equity of 35.15%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.64 earnings per share. On average, equities research analysts forecast that Target Co. will post 8.11 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.82%. Target’s dividend payout ratio is currently 49.09%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TGT shares. Cowen raised their price target on Target to $210.00 in a report on Monday, August 22nd. Raymond James lifted their price target on shares of Target from $190.00 to $200.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 18th. TheStreet downgraded Target from a “b-” rating to a “c+” rating in a report on Friday, June 24th. Barclays decreased their target price on Target from $200.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, June 8th. Finally, Truist Financial lifted their price objective on shares of Target from $150.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, August 18th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.67.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Further Reading

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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