Sompo Asset Management Co. Ltd. Sells 380 Shares of Target Co. (NYSE:TGT)

Sompo Asset Management Co. Ltd. decreased its holdings in shares of Target Co. (NYSE:TGT) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,652 shares of the retailer’s stock after selling 380 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Target were worth $881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado increased its position in shares of Target by 59.0% during the first quarter. Public Employees Retirement Association of Colorado now owns 109,390 shares of the retailer’s stock valued at $17,997,000 after buying an additional 40,602 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in Target by 170.7% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 10,187 shares of the retailer’s stock worth $1,805,000 after acquiring an additional 6,424 shares during the period. SVB Wealth LLC lifted its stake in Target by 7.7% in the 1st quarter. SVB Wealth LLC now owns 11,040 shares of the retailer’s stock worth $1,956,000 after purchasing an additional 785 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Target in the 1st quarter worth approximately $2,127,000. Finally, Silvercrest Asset Management Group LLC boosted its holdings in Target by 7.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 575,094 shares of the retailer’s stock valued at $101,912,000 after purchasing an additional 40,471 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Up 2.8 %

NYSE TGT opened at $125.01 on Friday. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The stock has a market capitalization of $57.59 billion, a PE ratio of 13.26, a PEG ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.27. The business’s 50-day moving average is $151.27 and its 200 day moving average is $149.61.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. Target’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts forecast that Target Co. will post 9.58 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 47.51%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGT. Guggenheim lowered their price objective on Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Monday, August 26th. Oppenheimer dropped their target price on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and decreased their price target for the stock from $184.00 to $108.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.13.

Insiders Place Their Bets

In related news, insider Richard H. Gomez sold 6,348 shares of Target 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 in the company, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The transaction 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 stock in a transaction on 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 of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is currently owned by corporate insiders.

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.