Associated Banc Corp Cuts Stake in Target Co. (NYSE:TGT)

Associated Banc Corp reduced its position in shares of Target Co. (NYSE:TGT) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,968 shares of the retailer’s stock after selling 992 shares during the period. Associated Banc Corp’s holdings in Target were worth $1,709,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in shares of Target during the 2nd quarter worth approximately $25,000. Slocum Gordon & Co LLP acquired a new stake in Target in the second quarter valued at $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Target during the 2nd quarter worth $31,000. Wolff Wiese Magana LLC grew its stake in shares of Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Target in the second quarter valued at about $37,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 4.4 %

Shares of TGT stock opened at $130.50 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The firm’s 50 day moving average price is $150.82 and its two-hundred day moving average price is $149.31. The stock has a market cap of $60.12 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.05 and a beta of 1.24.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, analysts anticipate that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.43%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TGT shares. Evercore ISI lowered their price target on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a report on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and issued a $165.00 price target on shares of Target in a research report on Monday. Melius Research started coverage on Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. Wells Fargo & Company cut their price target on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.63.

Insider Transactions at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 12.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred 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 sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

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.