Mizuho Markets Americas LLC Trims Holdings in Target Co. (NYSE:TGT)

Mizuho Markets Americas LLC decreased its holdings in shares of Target Co. (NYSE:TGT) by 37.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,410 shares of the retailer’s stock after selling 71,104 shares during the period. Mizuho Markets Americas LLC’s holdings in Target were worth $18,144,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. TAP Consulting LLC purchased a new position in Target in the 3rd quarter valued at $2,403,000. Olstein Capital Management L.P. increased its stake in shares of Target by 8.7% during the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after acquiring an additional 4,000 shares during the period. Janus Henderson Group PLC raised its stake in shares of Target by 20.5% during the 1st quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock worth $38,484,000 after buying an additional 36,941 shares in the last quarter. Eagle Rock Investment Company LLC boosted its position in shares of Target by 166.3% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock worth $2,522,000 after purchasing an additional 10,103 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Target during the first quarter worth about $107,367,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

TGT opened at $152.16 on Friday. Target Co. has a twelve month low of $127.19 and a twelve month high of $181.86. The firm has a market cap of $70.10 billion, a price-to-earnings ratio of 15.72, 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. The company has a fifty day simple moving average of $152.56 and a 200 day simple moving average of $150.46.

Target (NYSE:TGT) last announced 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 return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts expect that Target Co. will post 9.54 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is currently 46.28%.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction 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. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Truist Financial lifted their price objective on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Royal Bank of Canada raised their price target on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Morgan Stanley restated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. Finally, Roth Mkm lifted their price objective on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.47.

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.