Wright Investors Service Inc. Lowers Holdings in Target Co. (NYSE:TGT)

Wright Investors Service Inc. lowered its position in shares of Target Co. (NYSE:TGT) by 27.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,500 shares of the retailer’s stock after selling 2,844 shares during the quarter. Wright Investors Service Inc.’s holdings in Target were worth $1,169,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Rafferty Asset Management LLC raised its stake in shares of Target by 5.8% during the 4th quarter. Rafferty Asset Management LLC now owns 40,255 shares of the retailer’s stock worth $5,733,000 after buying an additional 2,219 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Target by 1.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 53,736 shares of the retailer’s stock worth $7,653,000 after acquiring an additional 986 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Target by 1,272.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 68,788 shares of the retailer’s stock valued at $9,797,000 after acquiring an additional 63,776 shares during the period. Stephens Inc. AR boosted its position in shares of Target by 8.7% during the 4th quarter. Stephens Inc. AR now owns 14,574 shares of the retailer’s stock worth $2,076,000 after purchasing an additional 1,166 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Target by 16.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,217,305 shares of the retailer’s stock worth $173,369,000 after purchasing an additional 171,408 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 2.2 %

NYSE:TGT traded up $3.28 on Friday, hitting $152.88. 3,557,483 shares of the stock were exchanged, compared to its average volume of 4,000,033. The stock has a fifty day moving average of $149.11 and a 200-day moving average of $153.98. The stock has a market cap of $70.73 billion, a PE ratio of 17.16, a PEG ratio of 2.00 and a beta of 1.24. 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 Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

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

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 annualized dividend and a yield of 2.93%. Target’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’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 owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated 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 directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s 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 transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock valued at $8,290,995 over the last three months. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

TGT has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Roth Mkm upped their price target on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Jefferies Financial Group lifted their price objective on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Piper Sandler initiated coverage on Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price on the stock. Finally, Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.69.

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.