Loudon Investment Management LLC trimmed its position in shares of Target Co. (NYSE:TGT) by 30.5% during the 3rd quarter, Holdings Channel reports. The firm owned 3,218 shares of the retailer’s stock after selling 1,410 shares during the period. Loudon Investment Management LLC’s holdings in Target were worth $344,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in TGT. Nuveen Asset Management LLC raised its position in shares of Target by 889.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,284,065 shares of the retailer’s stock valued at $371,043,000 after purchasing an additional 3,850,951 shares during the period. Renaissance Technologies LLC raised its position in shares of Target by 613.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,129,200 shares of the retailer’s stock valued at $271,020,000 after purchasing an additional 2,690,600 shares during the period. AQR Capital Management LLC raised its position in shares of Target by 55.4% during the 2nd quarter. AQR Capital Management LLC now owns 2,362,331 shares of the retailer’s stock valued at $204,601,000 after purchasing an additional 842,348 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Target by 310.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 877,818 shares of the retailer’s stock valued at $75,594,000 after purchasing an additional 663,782 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Target by 21.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,555,720 shares of the retailer’s stock valued at $307,961,000 after purchasing an additional 630,907 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.
In related news, insider Don H. Liu sold 2,000 shares of Target stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the transaction, the insider now directly owns 39,890 shares of the company’s stock, valued at approximately $4,387,900. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laysha Ward sold 20,000 shares of Target stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $110.23, for a total transaction of $2,204,600.00. Following the transaction, the insider now directly owns 88,171 shares of the company’s stock, valued at $9,719,089.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,478 shares of company stock valued at $8,915,363. 0.24% of the stock is owned by corporate insiders.
Several equities analysts recently weighed in on TGT shares. Nomura started coverage on shares of Target in a research note on Friday. They set a “buy” rating and a $123.00 target price for the company. Citigroup raised shares of Target from a “neutral” rating to a “buy” rating and raised their target price for the company from $80.00 to $130.00 in a research note on Thursday, August 22nd. ValuEngine cut shares of Target from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James started coverage on shares of Target in a research note on Monday, October 7th. They set a “strong-buy” rating and a $130.00 target price for the company. Finally, Credit Suisse Group set a $112.00 target price on shares of Target and gave the company a “buy” rating in a research note on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $107.70.
Shares of NYSE:TGT traded up $0.28 on Monday, reaching $110.44. The company’s stock had a trading volume of 1,920,320 shares, compared to its average volume of 5,086,021. Target Co. has a 52-week low of $60.15 and a 52-week high of $114.83. The company has a market cap of $56.23 billion, a P/E ratio of 20.49, a PEG ratio of 2.53 and a beta of 0.54. The company has a 50-day simple moving average of $109.29 and a 200 day simple moving average of $93.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84.
Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The business had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. During the same period last year, the company posted $1.47 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that Target Co. will post 6.16 EPS for the current fiscal year.
Target declared that its board has approved a share repurchase program on Thursday, September 19th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the retailer to purchase up to 9.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.66 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.39%. Target’s dividend payout ratio is presently 48.98%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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