Westpac Banking Corp Buys 1,542 Shares of Target Co. (NYSE:TGT)

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Westpac Banking Corp increased its stake in Target Co. (NYSE:TGT) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,269 shares of the retailer’s stock after purchasing an additional 1,542 shares during the quarter. Westpac Banking Corp’s holdings in Target were worth $11,691,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Rockbridge Investment Management LCC bought a new stake in Target in the 2nd quarter valued at about $27,000. Hall Laurie J Trustee bought a new stake in shares of Target in the third quarter valued at approximately $37,000. JJJ Advisors Inc. lifted its stake in shares of Target by 141.8% during the 3rd quarter. JJJ Advisors Inc. now owns 237 shares of the retailer’s stock valued at $37,000 after buying an additional 139 shares in the last quarter. Knuff & Co LLC purchased a new stake in shares of Target during the 3rd quarter valued at approximately $39,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in Target by 201.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 259 shares of the retailer’s stock worth $41,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.

Several equities analysts have recently weighed in on the company. MKM Partners upgraded Target from a “sell” rating to a “neutral” rating and lifted their price target for the company from $127.00 to $156.00 in a research report on Thursday. JPMorgan Chase & Co. reissued a “focus list” rating on shares of Target in a report on Wednesday, August 12th. Raymond James boosted their price objective on shares of Target from $180.00 to $200.00 and gave the company a “strong-buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Target in a research note on Thursday, October 8th. They issued a “buy” rating on the stock. Finally, Telsey Advisory Group restated an “outperform” rating and set a $175.00 price target on shares of Target in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company’s stock. Target currently has an average rating of “Buy” and a consensus price target of $146.74.

In other news, insider Michael Edward Mcnamara sold 27,726 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $157.15, for a total transaction of $4,357,140.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie A. Lundquist sold 4,471 shares of the firm’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $161.00, for a total value of $719,831.00. The disclosure for this sale can be found here. Insiders have sold a total of 49,789 shares of company stock valued at $7,773,422 over the last quarter. 0.52% of the stock is currently owned by company insiders.

NYSE TGT opened at $172.31 on Friday. The firm has a market cap of $86.26 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.16 and a beta of 0.85. Target Co. has a 1-year low of $90.17 and a 1-year high of $174.41. The stock has a 50-day moving average of $160.71 and a 200-day moving average of $137.47. The company has a current ratio of 1.11, a quick ratio of 0.55 and a debt-to-equity ratio of 1.13.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, November 17th. The retailer reported $2.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.60 by $1.19. Target had a return on equity of 30.25% and a net margin of 4.16%. During the same period in the previous year, the company posted $1.36 EPS. As a group, equities research analysts forecast that Target Co. will post 7.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, November 17th. Target’s payout ratio is 42.57%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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