Mutual of America Capital Management LLC Sells 1,379 Shares of Target Co. (NYSE:TGT)

Mutual of America Capital Management LLC trimmed its holdings in Target Co. (NYSE:TGT) by 2.4% in the third quarter, HoldingsChannel reports. The fund owned 56,894 shares of the retailer’s stock after selling 1,379 shares during the period. Mutual of America Capital Management LLC’s holdings in Target were worth $8,867,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in Target during the second quarter valued at about $25,000. Slocum Gordon & Co LLP purchased a new stake in Target during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in Target during the 2nd quarter worth approximately $31,000. Wolff Wiese Magana LLC increased its stake in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Target in the second quarter valued at approximately $37,000. Institutional investors own 79.73% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction 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. This represents a 12.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the firm’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 completion of the sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is owned by insiders.

Target Stock Down 0.9 %

Shares of Target stock opened at $152.13 on Monday. The company has a 50-day simple moving average of $152.56 and a two-hundred day simple moving average of $150.34. The stock has a market capitalization of $70.08 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. Target Co. has a 52-week low of $127.19 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 EPS. On average, analysts anticipate that Target Co. will post 9.55 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.94%. Target’s payout ratio is 46.28%.

Wall Street Analyst Weigh In

TGT has been the topic of several analyst reports. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Monday, August 26th. Citigroup upped their price objective on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Evercore ISI cut their target price on Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. Roth Mkm increased their price objective on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, TD Cowen lifted their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

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.