Townsend Asset Management Corp NC ADV Cuts Stake in Target Co. (NYSE:TGT)

Townsend Asset Management Corp NC ADV trimmed its stake in shares of Target Co. (NYSE:TGT) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,495 shares of the retailer’s stock after selling 80 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Target were worth $389,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Little House Capital LLC bought a new stake in shares of Target in the first quarter worth about $1,041,000. Nordea Investment Management AB lifted its position in Target by 23.6% during the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after purchasing an additional 122,706 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Target by 11.4% in the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after acquiring an additional 6,690 shares during the last quarter. Janney Capital Management LLC purchased a new position in shares of Target in the 1st quarter worth approximately $13,958,000. Finally, Wellington Management Group LLP lifted its position in Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after buying an additional 51,639 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Down 3.8 %

Shares of Target stock opened at $150.91 on Tuesday. 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 company has a market cap of $69.82 billion, a P/E ratio of 16.94, a PEG ratio of 1.99 and a beta of 1.24. The firm’s 50 day moving average price is $152.57 and its 200-day moving average price is $152.42. Target Co. has a 52-week low of $105.23 and a 52-week high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $25.19 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TGT. Melius Research began coverage on shares of Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective on the stock. TD Cowen increased their price objective on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Bank of America boosted their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein assumed coverage on Target in a research note on Tuesday. They set a “market perform” rating and a $168.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.30.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is currently owned by corporate insiders.

Target 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.