Bank of Hawaii Has $224,000 Stock Position in Target Co. (NYSE:TGT)

Bank of Hawaii cut its stake in Target Co. (NYSE:TGT) by 40.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,437 shares of the retailer’s stock after selling 974 shares during the period. Bank of Hawaii’s holdings in Target were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Triad Wealth Partners LLC acquired a new position in Target during the second quarter worth $25,000. Slocum Gordon & Co LLP acquired a new stake in shares of Target during the 2nd quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of Target during the 2nd quarter worth about $31,000. Wolff Wiese Magana LLC lifted its holdings in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Target in the second quarter valued at about $37,000. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TGT. Daiwa America raised shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and dropped their price target for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. Oppenheimer reissued an “outperform” rating and issued a $165.00 price objective on shares of Target in a research note on Monday. Royal Bank of Canada increased their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, TD Cowen cut their price target on Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $161.63.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 approximately $1,114,173.88. This represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Target Stock Performance

Shares of Target stock opened at $130.50 on Tuesday. The stock’s fifty day simple moving average is $150.82 and its 200 day simple moving average is $149.31. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $60.12 billion, a PE ratio of 13.84, a PEG ratio of 2.05 and a beta of 1.24. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same period in the prior year, the business earned $2.10 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts predict that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 47.51%.

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.