Dimensional Fund Advisors LP Grows Stock Position in Target Co. (NYSE:TGT)

Dimensional Fund Advisors LP lifted its position in Target Co. (NYSE:TGT) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,411,724 shares of the retailer’s stock after purchasing an additional 6,271 shares during the quarter. Dimensional Fund Advisors LP owned about 0.52% of Target worth $318,122,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Impact Partnership Wealth LLC acquired a new stake in Target during the 2nd quarter worth approximately $26,000. Penserra Capital Management LLC acquired a new position in shares of Target during the 4th quarter worth about $35,000. Ogorek Anthony Joseph NY ADV lifted its position in Target by 465.3% in the second quarter. Ogorek Anthony Joseph NY ADV now owns 277 shares of the retailer’s stock valued at $36,000 after acquiring an additional 228 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE purchased a new stake in Target in the first quarter valued at $37,000. Finally, Centerpoint Advisors LLC increased its holdings in shares of Target by 12,050.0% in the 1st quarter. Centerpoint Advisors LLC now owns 243 shares of the retailer’s stock valued at $40,000 after acquiring an additional 241 shares during the period. 78.33% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 17.8 %

Shares of TGT opened at $130.46 on Thursday. The company has a quick ratio of 0.18, a current ratio of 0.83 and a debt-to-equity ratio of 1.24. The stock’s 50-day moving average price is $112.56 and its 200 day moving average price is $127.71. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.70. The firm has a market capitalization of $60.22 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.19 and a beta of 1.04.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.63. Target had a net margin of 3.12% and a return on equity of 29.43%. The business had revenue of $25 billion for the quarter, compared to analyst estimates of $25.28 billion. During the same period in the previous year, the business earned $1.54 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. As a group, research analysts predict that Target Co. will post 7.56 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.37%. Target’s payout ratio is presently 60.44%.

Analysts Set New Price Targets

TGT has been the subject of a number of recent analyst reports. Roth Mkm restated a “neutral” rating and issued a $156.00 price objective on shares of Target in a research report on Wednesday, August 16th. The Goldman Sachs Group reduced their price objective on shares of Target from $185.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Piper Sandler lowered their price target on Target from $220.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, August 14th. Jefferies Financial Group reduced their target price on shares of Target from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, TD Cowen dropped their price objective on Target from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th. Sixteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.84.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 30,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $130.70, for a total transaction of $3,921,000.00. Following the completion of the sale, the insider now directly owns 399,669 shares of the company’s stock, valued at approximately $52,236,738.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.

Target Company Profile

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.