Van ECK Associates Corp Acquires 5,548 Shares of Target Co. (NYSE:TGT)

Van ECK Associates Corp boosted its holdings in Target Co. (NYSE:TGT) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,908 shares of the retailer’s stock after purchasing an additional 5,548 shares during the quarter. Van ECK Associates Corp’s holdings in Target were worth $20,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in Target in the 2nd quarter worth approximately $25,000. Slocum Gordon & Co LLP bought a new position in Target in the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC bought a new position in Target in the 2nd quarter worth approximately $31,000. Washington Trust Advisors Inc. boosted its stake in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the period. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Target stock opened at $149.99 on Tuesday. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The stock has a market cap of $69.10 billion, a P/E ratio of 15.49, a PEG ratio of 1.94 and a beta of 1.24. The company has a 50-day moving average price of $152.86 and a 200 day moving average price of $151.11. 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 (NYSE:TGT) last announced 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. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period last year, the business earned $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Target Co. will post 9.54 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.99%. Target’s dividend payout ratio is currently 46.28%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a report on Monday. Stifel Nicolaus upped their price objective on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Sanford C. Bernstein initiated coverage on Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Melius Research initiated coverage on shares of Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and an average target price of $179.47.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 over the last 90 days. 0.15% of the stock is owned by insiders.

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.