Intech Investment Management LLC Sells 11,986 Shares of Target Co. (NYSE:TGT)

Intech Investment Management LLC decreased its position in shares of Target Co. (NYSE:TGT - Free Report) by 22.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,982 shares of the retailer's stock after selling 11,986 shares during the period. Intech Investment Management LLC's holdings in Target were worth $6,543,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of Target in the 2nd quarter valued at $25,000. Slocum Gordon & Co LLP purchased a new stake in Target during the second quarter valued at about $28,000. Hobbs Group Advisors LLC purchased a new stake in Target during the second quarter valued at about $31,000. Wolff Wiese Magana LLC grew its stake in shares of Target by 156.5% during 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 during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Target in the second quarter worth about $37,000. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TGT shares. Oppenheimer decreased their price target on Target from $200.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 14th. Guggenheim decreased their target price on shares of Target from $180.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Target from $167.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday. Evercore ISI decreased their price objective on shares of Target from $165.00 to $130.00 and set an "in-line" rating on the stock in a research report on Thursday. Finally, Truist Financial increased their target price on shares of Target from $156.00 to $162.00 and gave the stock a "hold" rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Target presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.13.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target 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 sale, the insider now owns 303,843 shares of the company's stock, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company's stock, valued at $1,114,173.88. The trade was a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 over the last 90 days. Corporate insiders own 0.15% of the company's stock.

Target Stock Performance

Target stock opened at $125.01 on Friday. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $57.59 billion, a P/E ratio of 13.26, a PEG ratio of 1.57 and a beta of 1.24. The stock's 50 day moving average is $151.27 and its 200 day moving average is $149.69.

Target (NYSE:TGT - Get Free Report) last issued its quarterly 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). 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%. During the same quarter in the previous year, the business earned $2.10 earnings per share. Target's revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that Target Co. will post 9.58 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 20th. Target's payout ratio is 47.51%.

Target Company 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.