Target Co. (NYSE:TGT) Stock Position Reduced by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. reduced its position in shares of Target Co. (NYSE:TGT) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,032 shares of the retailer’s stock after selling 640 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Target were worth $893,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Boston Partners bought a new position in shares of Target during the first quarter valued at approximately $335,870,000. Focused Investors Fund L P bought a new position in Target during the 1st quarter worth $125,536,000. Swedbank AB acquired a new stake in Target in the first quarter worth $107,367,000. Los Angeles Capital Management LLC lifted its stake in Target by 44.6% in the first quarter. Los Angeles Capital Management LLC now owns 1,765,496 shares of the retailer’s stock valued at $312,864,000 after buying an additional 544,920 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Target by 17.5% during the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after purchasing an additional 470,647 shares during the period. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price objective on shares of Target in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. TD Cowen lifted their price target on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. BNP Paribas initiated coverage on Target in a research note on Monday, June 3rd. They set an “underperform” rating and a $116.00 price target for the company. Finally, Evercore ISI increased their target price on Target from $158.00 to $160.00 and gave the company an “inline” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.68.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction 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 $48,210,768.81. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Target Trading Down 1.1 %

NYSE:TGT opened at $154.75 on Friday. The company has a market cap of $71.59 billion, a PE ratio of 17.37, a PEG ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a one year low of $102.93 and a one year high of $181.86. The firm has a 50-day moving average of $148.48 and a 200-day moving average of $155.08.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The business also recently disclosed 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 2.89%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

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.