Target Co. (NYSE:TGT) Stock Position Reduced by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in Target Co. (NYSE:TGT) by 22.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,982 shares of the retailer’s stock after selling 11,986 shares during the quarter. Intech Investment Management LLC’s holdings in Target were worth $6,543,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TGT. TAP Consulting LLC acquired a new stake in Target during the third quarter valued at $2,403,000. Olstein Capital Management L.P. lifted its holdings in shares of Target by 8.7% during the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock valued at $7,793,000 after buying an additional 4,000 shares during the last quarter. Smead Capital Management Inc. grew its stake in shares of Target by 3.4% in the 3rd quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer’s stock valued at $193,879,000 after buying an additional 41,394 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Target by 20.5% in the first 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 during the last quarter. Finally, Eagle Rock Investment Company LLC raised its position in Target by 166.3% during the third quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock valued at $2,522,000 after acquiring an additional 10,103 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Evercore ISI dropped their price target on shares of Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday. Truist Financial increased their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. reduced 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. Sanford C. Bernstein assumed coverage on Target in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target for the company. Finally, BMO Capital Markets cut their price objective on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.13.

Target Price Performance

Shares of TGT stock opened at $125.01 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock’s fifty day simple moving average is $151.27 and its 200 day simple moving average is $149.69. Target Co. has a one year low of $120.21 and a one year high of $181.86. The firm has a market cap of $57.59 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.03 and a beta of 1.24.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 EPS. On average, analysts expect that Target Co. will post 9.55 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.58%. Target’s dividend payout ratio (DPR) is presently 46.28%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were 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. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 in the last three months. Corporate insiders own 0.15% of the company’s stock.

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.