Target Co. (NYSE:TGT) Shares Acquired by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Target Co. (NYSE:TGT) by 628.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,638 shares of the retailer’s stock after purchasing an additional 26,432 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Target were worth $4,775,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Little House Capital LLC acquired a new stake in Target in the 1st quarter valued at $1,041,000. Nordea Investment Management AB increased its holdings in Target by 23.6% in the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after purchasing an additional 122,706 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Target by 11.4% in the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after purchasing an additional 6,690 shares in the last quarter. Janney Capital Management LLC purchased a new position in Target in the 1st quarter valued at about $13,958,000. Finally, Wellington Management Group LLP boosted its position in Target by 864.4% in the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after buying an additional 51,639 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TGT shares. StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Roth Mkm raised their target price on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their target price on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler started coverage on Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price for the company. Finally, Oppenheimer lowered their target price on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.69.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on 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 $19,418,510.67. The trade was 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 at the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was 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 at the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, 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 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.15% of the company’s stock.

Target Stock Performance

TGT opened at $158.46 on Monday. The business’s 50 day moving average is $149.86 and its 200-day moving average is $153.23. The stock has a market cap of $73.00 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.99 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. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 earnings per share. On average, analysts predict that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.83%. Target’s dividend payout ratio (DPR) is presently 46.28%.

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.