Tobam Acquires New Holdings in Target Co. (NYSE:TGT)

Tobam bought a new position in shares of Target Co. (NYSE:TGT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 531 shares of the retailer’s stock, valued at approximately $79,000.

Several other institutional investors also recently modified their holdings of the stock. Blue Chip Partners LLC increased its holdings in Target by 4.9% in the 2nd quarter. Blue Chip Partners LLC now owns 145,972 shares of the retailer’s stock worth $21,610,000 after purchasing an additional 6,853 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Target by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 202,008 shares of the retailer’s stock worth $29,905,000 after purchasing an additional 27,099 shares during the last quarter. Banco Santander S.A. acquired a new position in shares of Target in the second quarter valued at approximately $1,167,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Target in the 2nd quarter valued at approximately $37,000. Finally, Arkadios Wealth Advisors boosted its position in Target by 2.7% during the 2nd quarter. Arkadios Wealth Advisors now owns 18,574 shares of the retailer’s stock worth $2,750,000 after buying an additional 497 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

NYSE TGT opened at $153.62 on Friday. The company has a market cap of $71.07 billion, a P/E ratio of 17.24, a PEG ratio of 1.38 and a beta of 1.19. The company has a fifty day simple moving average of $147.03 and a 200 day simple moving average of $154.86. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. 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, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. 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 firm posted $1.80 earnings per share. Sell-side analysts predict that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 2.92%. Target’s payout ratio is presently 50.28%.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now directly 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 is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TGT has been the subject of several recent research reports. Truist Financial upped their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Bank of America increased their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Oppenheimer decreased their price target on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.68.

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.