Target Co. (NYSE:TGT) Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in Target Co. (NYSE:TGT) by 31.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 211,711 shares of the retailer’s stock after selling 94,895 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Target were worth $32,997,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TGT. Financial Advocates Investment Management increased its holdings in Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after buying an additional 67 shares during the period. Beacon Capital Management LLC increased its stake in shares of Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the period. Integral Investment Advisors Inc. increased its stake in shares of Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares during the period. Trust Co. of Vermont raised its holdings in shares of Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after purchasing an additional 69 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its position in Target by 9.7% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the retailer’s stock valued at $119,000 after purchasing an additional 71 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Up 2.8 %

TGT stock opened at $125.01 on Friday. The company has a market cap of $57.59 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 2.03 and a beta of 1.24. The firm has a 50-day moving average of $151.27 and a two-hundred day moving average of $149.69. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released 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 33.10% and a net margin of 4.18%. The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same period last year, the firm posted $2.10 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Target Co. will post 9.55 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed 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. This represents a $4.48 annualized dividend and a yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 46.28%.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 12.08 % decrease in their position. 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 ninety days. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. Piper Sandler reduced their price objective on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday. BMO Capital Markets reduced their price target on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday. Daiwa Capital Markets upgraded 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. Stifel Nicolaus cut their target price on shares of Target from $165.00 to $137.00 and set a “hold” rating for the company in a report on Thursday. Finally, Daiwa America raised shares of Target to a “strong-buy” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.13.

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.