Xponance Inc. Cuts Stock Position in Target Co. (NYSE:TGT)

Xponance Inc. decreased its holdings in Target Co. (NYSE:TGT) by 38.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,777 shares of the retailer’s stock after selling 43,260 shares during the quarter. Xponance Inc.’s holdings in Target were worth $10,182,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TGT. Boston Partners purchased a new stake in shares of Target during the first quarter worth $335,870,000. Focused Investors Fund L P purchased a new stake in Target during the 1st quarter worth about $125,536,000. Swedbank AB acquired a new stake in Target in the 1st quarter valued at about $107,367,000. Los Angeles Capital Management LLC grew its position in shares of Target by 44.6% during the first quarter. Los Angeles Capital Management LLC now owns 1,765,496 shares of the retailer’s stock worth $312,864,000 after buying an additional 544,920 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake 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 worth $558,898,000 after buying an additional 470,647 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were 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 directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Daiwa America raised Target to a “strong-buy” rating in a research report on Monday, August 26th. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Finally, Melius Research initiated coverage on Target in a research note on Monday. They set a “buy” rating and a $180.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Target currently has an average rating of “Moderate Buy” and a consensus price target of $179.69.

Target Stock Performance

NYSE TGT opened at $155.29 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $148.56 and its two-hundred day moving average is $154.74. The stock has a market capitalization of $71.84 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.90 and a beta of 1.24. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

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

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.88%. Target’s dividend payout ratio (DPR) is presently 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.