Target Co. (NYSE:TGT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in Target Co. (NYSE:TGT) by 53.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 670,657 shares of the retailer’s stock after selling 771,772 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Target were worth $104,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TGT. Triad Wealth Partners LLC acquired a new stake in shares of Target in the second quarter valued at $25,000. Slocum Gordon & Co LLP acquired a new stake in shares of Target in the second quarter valued at $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of Target in the second quarter valued at $31,000. Washington Trust Advisors Inc. grew its stake in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Finally, Wolff Wiese Magana LLC grew its stake in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

Shares of TGT traded down $1.13 on Friday, reaching $149.78. The stock had a trading volume of 3,323,610 shares, compared to its average volume of 3,336,026. The firm has a 50-day moving average of $152.39 and a 200 day moving average of $150.73. The firm has a market capitalization of $69.00 billion, a PE ratio of 15.47, a PEG ratio of 1.90 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.80 EPS. Sell-side analysts expect that Target Co. will post 9.54 EPS for the current 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 paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TGT shares. JPMorgan Chase & Co. boosted their target price on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Oppenheimer lowered their target price on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein started coverage on Target in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price for the company. Finally, UBS Group boosted their target price on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Target currently has an average rating of “Moderate Buy” and an average target price of $179.47.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at $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 is available through this link. In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 in the last quarter. 0.15% of the stock is currently owned by company 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.