Target Co. (NYSE:TGT) Shares Purchased by Socorro Asset Management LP

Socorro Asset Management LP raised its holdings in Target Co. (NYSE:TGT) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,740 shares of the retailer’s stock after acquiring an additional 232 shares during the period. Target makes up approximately 3.2% of Socorro Asset Management LP’s investment portfolio, making the stock its 12th largest position. Socorro Asset Management LP’s holdings in Target were worth $8,376,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Thrivent Financial for Lutherans lifted its position in Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after buying an additional 490 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Target by 8.6% in the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after purchasing an additional 9,510 shares during the period. Transamerica Financial Advisors Inc. purchased a new stake in shares of Target in the third quarter valued at about $967,000. TAP Consulting LLC purchased a new position in Target during the third quarter worth about $2,403,000. Finally, Olstein Capital Management L.P. boosted its holdings in Target by 8.7% in the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock valued at $7,793,000 after purchasing an additional 4,000 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TGT. Citigroup downgraded shares of Target from a “buy” rating to a “neutral” rating and cut their price target for the stock from $188.00 to $130.00 in a report on Wednesday, November 20th. Bank of America reduced their target price on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. Roth Mkm reduced their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $160.30.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’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 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. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $132.31 on Friday. The company has a market capitalization of $60.95 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. 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 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $148.86 and a 200 day moving average price of $148.51.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the previous year, the company posted $2.10 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts predict that Target Co. will post 8.6 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 47.51%.

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.