Penserra Capital Management LLC Sells 1,093 Shares of Target Co. (NYSE:TGT)

Penserra Capital Management LLC lessened its holdings in Target Co. (NYSE:TGT) by 18.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,694 shares of the retailer’s stock after selling 1,093 shares during the period. Penserra Capital Management LLC’s holdings in Target were worth $731,000 at the end of the most recent quarter.

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

Insider Transactions 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 transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the 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 transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, 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. Corporate insiders own 0.15% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $130.11 on Thursday. The stock has a market capitalization of $59.94 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.14 and a beta of 1.24. The stock has a 50-day moving average of $149.84 and a 200 day moving average of $148.92. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86.

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

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.44%. Target’s dividend payout ratio (DPR) is 47.51%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $170.00 to $130.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and dropped their target price for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. Bank of America decreased their price target on Target from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Roth Mkm dropped their price target on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Target presently has an average rating of “Hold” and a consensus target price of $160.30.

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.