IFM Investors Pty Ltd Reduces Stock Holdings in Target Co. (NYSE:TGT)

IFM Investors Pty Ltd cut its stake in shares of Target Co. (NYSE:TGT) by 0.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 96,388 shares of the retailer’s stock after selling 448 shares during the period. IFM Investors Pty Ltd’s holdings in Target were worth $15,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Triad Wealth Partners LLC purchased a new position in shares of Target in the second quarter valued at $25,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target during the second quarter worth about $28,000. Hobbs Group Advisors LLC purchased a new position in Target in the second quarter valued at about $31,000. Washington Trust Advisors Inc. grew its stake in Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its holdings in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT opened at $150.17 on Friday. The business has a 50 day moving average price of $153.07 and a two-hundred day moving average price of $152.23. 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 company has a market capitalization of $69.47 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86.

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

Target Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.98%. Target’s payout ratio is currently 50.28%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TGT shares. JPMorgan Chase & Co. raised their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Piper Sandler began coverage on shares of Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. UBS Group increased their price target on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Finally, Wells Fargo & Company upped their price objective on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction 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 transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was 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 $1,114,173.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last ninety days. Insiders own 0.23% 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.