Ardevora Asset Management LLP Sells 22,500 Shares of Target Co. (TGT)

Ardevora Asset Management LLP reduced its stake in Target Co. (NYSE:TGT) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 327,904 shares of the retailer’s stock after selling 22,500 shares during the period. Ardevora Asset Management LLP owned approximately 0.06% of Target worth $28,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TGT. Swedbank purchased a new stake in Target in the 3rd quarter valued at about $198,324,000. BlackRock Inc. raised its holdings in 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 buying an additional 2,161,982 shares during the period. Bank of Montreal Can purchased a new stake in Target in the 2nd quarter valued at about $105,222,000. Robeco Institutional Asset Management B.V. raised its holdings in Target by 54.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,028,126 shares of the retailer’s stock valued at $178,899,000 after buying an additional 717,588 shares during the period. Finally, Tyvor Capital LLC purchased a new stake in Target in the 2nd quarter valued at about $46,411,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Several analysts recently issued reports on TGT shares. Robert W. Baird boosted their price objective on shares of Target from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 23rd. Wolfe Research lowered shares of Target from an “outperform” rating to a “market perform” rating in a report on Thursday, August 23rd. Guggenheim restated a “hold” rating on shares of Target in a report on Wednesday, August 22nd. Bank of America set a $90.00 price objective on shares of Target and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, Citigroup lifted their target price on Target from $76.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday, August 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Target presently has a consensus rating of “Hold” and a consensus price target of $88.19.

Target stock traded up $0.23 during trading hours on Thursday, hitting $69.26. The stock had a trading volume of 11,721,772 shares, compared to its average volume of 6,234,001. Target Co. has a 1-year low of $55.25 and a 1-year high of $90.39. The firm has a market capitalization of $36.33 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.90 and a beta of 0.73. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.17 and a current ratio of 0.83.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, November 20th. The retailer reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.02). Target had a return on equity of 25.02% and a net margin of 4.31%. The firm had revenue of $17.59 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Target Co. will post 5.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.64 per share. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a yield of 3.70%. Target’s dividend payout ratio (DPR) is presently 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 stock was sold at an average price of $88.00, for a total value of $1,335,136.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie A. Lundquist sold 2,100 shares of Target stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

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Target 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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