AE Wealth Management LLC Decreases Holdings in Target Co. (NYSE:TGT)

AE Wealth Management LLC lowered its position in Target Co. (NYSE:TGT) by 73.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,054 shares of the retailer’s stock after selling 14,040 shares during the period. AE Wealth Management LLC’s holdings in Target were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. BlackRock Inc. grew its holdings in shares of Target by 5.3% in the 2nd quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock valued at $3,255,697,000 after acquiring an additional 2,161,982 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Target in the 2nd quarter valued at about $105,222,000. CIBC World Markets Inc. lifted its stake in Target by 13,948.9% in the 1st quarter. CIBC World Markets Inc. now owns 811,322 shares of the retailer’s stock valued at $56,330,000 after purchasing an additional 805,547 shares during the last quarter. Tyvor Capital LLC acquired a new stake in Target in the 2nd quarter valued at about $46,411,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in Target in the 2nd quarter valued at about $44,644,000. Institutional investors and hedge funds own 83.52% of the company’s stock.

TGT stock traded up $0.88 during mid-day trading on Monday, hitting $85.40. 3,563,800 shares of the company were exchanged, compared to its average volume of 5,373,768. The company has a quick ratio of 0.17, a current ratio of 0.82 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $46.43 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.70. Target Co. has a 1-year low of $54.04 and a 1-year high of $90.39.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.07. Target had a net margin of 4.19% and a return on equity of 24.29%. The company had revenue of $17.78 billion during the quarter, compared to the consensus estimate of $17.33 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Target Co. will post 5.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a $0.64 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.00%. Target’s payout ratio is 54.35%.

In other news, insider Janna A. Potts sold 15,172 shares of Target stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $88.00, for a total value of $1,335,136.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Several equities research analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Target in a research note on Monday, September 17th. They issued a “market perform” rating and a $88.00 target price for the company. Citigroup raised their target price on shares of Target from $76.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, August 27th. Deutsche Bank set a $90.00 target price on shares of Target and gave the company a “hold” rating in a research note on Saturday, August 25th. Credit Suisse Group set a $86.00 target price on shares of Target and gave the company a “hold” rating in a research note on Saturday, August 25th. Finally, Wolfe Research downgraded shares of Target from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 23rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.68.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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