OVERSEA CHINESE BANKING Corp Ltd Invests $507,000 in Target Co. (NYSE:TGT)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Target Co. (NYSE:TGT) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 3,252 shares of the retailer’s stock, valued at approximately $507,000.

Other institutional investors have also bought and sold shares of the company. TAP Consulting LLC bought a new stake in shares of Target in the 3rd quarter worth $2,403,000. Olstein Capital Management L.P. increased its stake in Target by 8.7% in the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock valued at $7,793,000 after buying an additional 4,000 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Target by 20.5% during the 1st quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock worth $38,484,000 after buying an additional 36,941 shares in the last quarter. Eagle Rock Investment Company LLC boosted its stake in shares of Target by 166.3% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock worth $2,522,000 after buying an additional 10,103 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Target in the first quarter valued at approximately $107,367,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $154.99 on Thursday. The firm has a market capitalization of $71.40 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.01 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The stock’s 50-day simple moving average is $152.46 and its two-hundred day simple moving average is $150.49. Target Co. has a twelve month low of $108.08 and a twelve month high of $181.86.

Target (NYSE:TGT) last announced its 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 for the quarter, compared to the consensus estimate of $25.19 billion. During the same period last year, the firm posted $1.80 earnings per share. Target’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Target Co. will post 9.54 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.89%. Target’s dividend payout ratio (DPR) is presently 46.28%.

Analysts Set New Price Targets

A number of analysts recently commented on TGT shares. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 target price on shares of Target in a research note on Wednesday. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. 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 report on Thursday, August 29th. Finally, Morgan Stanley reissued an “overweight” rating and set a $180.00 target price on shares of Target in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Target news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 over the last 90 days. 0.15% of the stock is owned by insiders.

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.