Generate Investment Management Ltd Takes $8.69 Million Position in Target Co. (NYSE:TGT)

19 Oct 2024, 21:16 by Michael Walen · The Markets Daily

Generate Investment Management Ltd bought a new position in shares of Target Co. (NYSE:TGT – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,750 shares of the retailer’s stock, valued at approximately $8,689,000.

Several other institutional investors also recently bought and sold shares of TGT. Boston Partners bought a new position in Target during the first quarter valued at $335,870,000. AQR Capital Management LLC lifted its holdings in shares of Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after acquiring an additional 768,479 shares during the last quarter. Swedbank AB purchased a new position in Target in the first quarter worth about $107,367,000. Clearbridge Investments LLC increased its stake in Target by 17.5% during the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after acquiring an additional 470,647 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after purchasing an additional 440,307 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 0.6 %

Shares of NYSE TGT opened at $156.78 on Friday. The business has a fifty day moving average price of $152.25 and a 200 day moving average price of $152.90. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market capitalization of $72.53 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT – Get Free Report) 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 business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $1.80 EPS. Equities research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

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 given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is presently 50.28%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TGT. StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Stifel Nicolaus increased their target price on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Melius Research initiated coverage on shares of Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. Finally, Bank of America increased their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.69.

View Our Latest Stock Analysis on TGT

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’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 transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.23% of the company’s stock.

Target Company Profile

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