Commonwealth Equity Services LLC Cuts Stock Holdings in Target Co. (NYSE:TGT)

Commonwealth Equity Services LLC reduced its position in Target Co. (NYSE:TGT) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 307,295 shares of the retailer’s stock after selling 21,810 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Target were worth $47,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in shares of Target by 2.4% in the third quarter. Raymond James & Associates now owns 1,488,308 shares of the retailer’s stock worth $231,968,000 after acquiring an additional 35,255 shares during the period. Blue Trust Inc. increased its stake in shares of Target by 8.7% in the 3rd quarter. Blue Trust Inc. now owns 3,374 shares of the retailer’s stock valued at $500,000 after purchasing an additional 271 shares in the last quarter. Riverview Trust Co increased its stake in shares of Target by 3.9% in the 3rd quarter. Riverview Trust Co now owns 2,501 shares of the retailer’s stock valued at $390,000 after purchasing an additional 95 shares in the last quarter. Generate Investment Management Ltd acquired a new position in Target in the 3rd quarter worth about $8,689,000. Finally, Net Worth Advisory Group purchased a new position in Target during the third quarter worth approximately $1,289,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 0.6 %

Shares of TGT stock opened at $156.84 on Monday. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The firm has a market cap of $72.56 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The company has a 50-day moving average of $152.25 and a two-hundred day moving average of $152.57. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same period in the prior year, the business posted $1.80 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts predict that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.86%. Target’s payout ratio is presently 50.28%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Citigroup upped their price objective on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and set a $195.00 price target on shares of Target in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is currently owned by corporate insiders.

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.