Strategy Asset Managers LLC Decreases Stock Position in Target Co. (NYSE:TGT)

Strategy Asset Managers LLC decreased its holdings in shares of Target Co. (NYSE:TGT - Free Report) by 94.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,971 shares of the retailer's stock after selling 34,116 shares during the period. Strategy Asset Managers LLC's holdings in Target were worth $307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in shares of Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer's stock valued at $311,937,000 after purchasing an additional 1,981,458 shares in the last quarter. Boston Partners acquired a new position in Target during the 1st quarter worth about $335,870,000. AQR Capital Management LLC lifted its holdings in Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer's stock worth $129,762,000 after buying an additional 768,479 shares in the last quarter. Swedbank AB acquired a new stake in shares of Target in the 1st quarter valued at $107,367,000. Finally, Victory Capital Management Inc. raised its holdings in Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer's stock worth $639,050,000 after purchasing an additional 440,307 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on TGT. Deutsche Bank Aktiengesellschaft cut Target from a "buy" rating to a "hold" rating and decreased their target price for the company from $184.00 to $108.00 in a research note on Wednesday. Jefferies Financial Group upped their target price on Target from $190.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. Morgan Stanley reiterated an "overweight" rating and issued a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. TD Cowen increased their price objective on shares of Target from $165.00 to $180.00 and gave the company a "hold" rating in a research report on Thursday, August 22nd. Finally, Sanford C. Bernstein started coverage on Target in a report on Tuesday, October 22nd. They set a "market perform" rating and a $168.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Target currently has a consensus rating of "Moderate Buy" and an average target price of $171.03.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $1,114,173.88. The trade was a 12.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is currently owned by company insiders.

Target Stock Performance

Shares of NYSE TGT opened at $121.73 on Thursday. The company has a market capitalization of $56.08 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.03 and a beta of 1.24. The stock has a 50 day moving average of $152.33 and a 200-day moving average of $150.12. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target's revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 earnings per share. As a group, equities research analysts predict that Target Co. will post 9.55 EPS for the current year.

Target Dividend Announcement

The business also recently announced 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 3.68%. The ex-dividend date of this dividend is Wednesday, November 20th. Target's dividend payout ratio is currently 46.28%.

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.