Assenagon Asset Management S.A. Sells 19,750 Shares of Target Co. (NYSE:TGT)

Assenagon Asset Management S.A. trimmed its position in Target Co. (NYSE:TGT) by 9.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,918 shares of the retailer’s stock after selling 19,750 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Target were worth $24,592,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cynosure Group LLC increased its stake in Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after acquiring an additional 65 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after purchasing an additional 67 shares in the last quarter. Hancock Whitney Corp increased its position in Target by 3.3% in the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the last quarter. Trust Co. of Vermont raised its stake in Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares in the last quarter. Finally, Eagle Bluffs Wealth Management LLC lifted its position in Target by 1.1% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock valued at $1,063,000 after purchasing an additional 73 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Shares of TGT opened at $133.06 on Friday. The stock has a market capitalization of $60.97 billion, a PE ratio of 14.11, a PEG ratio of 2.32 and a beta of 1.16. The company has a 50 day moving average price of $136.81 and a 200-day moving average price of $145.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

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

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, February 12th. Target’s payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TGT. TD Cowen decreased their target price on shares of Target from $165.00 to $145.00 and set a “hold” 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 research report on Wednesday, November 20th. Bank of America dropped their target price on Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Melius Research initiated coverage on Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target for the company. Finally, HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective on the stock. in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Hold” and an average price target of $160.57.

About Target

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.