Intech Investment Management LLC Lowers Stock Holdings in Target Co. (NYSE:TGT)

Intech Investment Management LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 22.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its holdings in shares of Target by 6.2% in the 1st quarter. Lazard Asset Management LLC now owns 303,593 shares of the retailer’s stock valued at $53,799,000 after purchasing an additional 17,748 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of Target by 4.1% in the first quarter. Kestra Advisory Services LLC now owns 84,656 shares of the retailer’s stock worth $15,002,000 after buying an additional 3,370 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Target by 59.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 109,390 shares of the retailer’s stock worth $17,997,000 after acquiring an additional 40,602 shares during the period. Blue Edge Capital LLC grew its holdings in Target by 0.9% during the 1st quarter. Blue Edge Capital LLC now owns 18,211 shares of the retailer’s stock valued at $3,227,000 after purchasing an additional 155 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its stake in shares of Target by 170.7% during the first quarter. Mount Yale Investment Advisors LLC now owns 10,187 shares of the retailer’s stock valued at $1,805,000 after acquiring an additional 6,424 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America lowered their price objective on Target from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler reduced their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada lifted their target price on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, UBS Group upped their price target on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.13.

Insider Transactions at Target

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 shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred 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 transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. 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. Company insiders own 0.15% of the company’s stock.

Target Price Performance

NYSE:TGT opened at $125.01 on Friday. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a market cap of $57.59 billion, a P/E ratio of 12.91, a PEG ratio of 2.03 and a beta of 1.24. The business’s 50-day moving average price is $151.27 and its 200 day moving average price is $149.69.

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

Target Announces Dividend

The business also recently announced 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 46.28%.

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.