TCW Group Inc. Sells 1,183 Shares of Target Co. (NYSE:TGT)

TCW Group Inc. lessened its holdings in Target Co. (NYSE:TGT) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 323,629 shares of the retailer’s stock after selling 1,183 shares during the quarter. TCW Group Inc.’s holdings in Target were worth $50,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Triad Wealth Partners LLC bought a new position in Target in the second quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in Target in the third quarter valued at approximately $28,000. Slocum Gordon & Co LLP bought a new position in Target during the second quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Target in the 2nd quarter valued at about $31,000. Finally, Wolff Wiese Magana LLC boosted its holdings 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 buying an additional 133 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Down 0.1 %

Target stock opened at $135.09 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business has a 50 day simple moving average of $145.97 and a 200-day simple moving average of $147.52. The stock has a market capitalization of $61.90 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.17. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86.

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

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.32%. Target’s dividend payout ratio is currently 47.51%.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TGT. JPMorgan Chase & Co. cut their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. TD Cowen decreased their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Guggenheim reduced their price target on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Wells Fargo & Company decreased their price objective on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $160.57.

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.