Mirae Asset Global Investments Co. Ltd. Buys 8,823 Shares of Target Co. (NYSE:TGT)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Target Co. (NYSE:TGT) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 131,734 shares of the retailer’s stock after purchasing an additional 8,823 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Target were worth $20,443,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TGT. Hennion & Walsh Asset Management Inc. raised its position in Target by 1.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 10,399 shares of the retailer’s stock worth $1,843,000 after purchasing an additional 112 shares during the last quarter. Alpha Omega Wealth Management LLC acquired a new stake in Target during the 1st quarter worth about $206,000. Vicus Capital acquired a new stake in Target during the 1st quarter worth about $336,000. Founders Financial Securities LLC grew its holdings in Target by 118.1% during the 1st quarter. Founders Financial Securities LLC now owns 9,469 shares of the retailer’s stock worth $1,678,000 after acquiring an additional 5,127 shares during the period. Finally, New Mexico Educational Retirement Board grew its holdings in Target by 15.8% during the 1st quarter. New Mexico Educational Retirement Board now owns 27,816 shares of the retailer’s stock worth $4,929,000 after acquiring an additional 3,800 shares during the period. 79.73% of the stock is owned by institutional investors.

Insider Activity at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 over the last quarter. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Evercore ISI reduced their target price on Target from $170.00 to $165.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. Morgan Stanley restated an “overweight” rating and issued a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. Jefferies Financial Group raised their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler began coverage on Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Target Stock Up 0.7 %

Target stock opened at $151.16 on Friday. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The firm has a market capitalization of $69.93 billion, a price-to-earnings ratio of 16.97, a P/E/G 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. The firm has a 50 day simple moving average of $153.38 and a 200 day simple moving average of $151.95.

Target (NYSE:TGT) last released its quarterly earnings data 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 business had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.80 EPS. On average, analysts predict that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given 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 yield of 2.96%. Target’s dividend payout ratio (DPR) is 50.28%.

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.