Sompo Asset Management Co. Ltd. Sells 640 Shares of Target Co. (NYSE:TGT)

Sompo Asset Management Co. Ltd. decreased its holdings in shares of Target Co. (NYSE:TGT) by 9.6% during the second quarter, Holdings Channel.com reports. The fund owned 6,032 shares of the retailer’s stock after selling 640 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Target were worth $893,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in Target during the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Target during the fourth quarter worth $28,000. Slocum Gordon & Co LLP purchased a new position in Target in the second quarter valued at $28,000. Scarborough Advisors LLC purchased a new stake in shares of Target during the 4th quarter worth about $29,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Target during the 2nd quarter valued at about $31,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 1.1 %

TGT opened at $154.75 on Friday. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The stock has a fifty day moving average of $148.48 and a 200-day moving average of $155.08. The company has a market capitalization of $71.59 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the company earned $1.80 EPS. The company’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that Target Co. will post 9.53 EPS for the current 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 issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.89%. Target’s dividend payout ratio (DPR) is currently 50.28%.

Insider Activity at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on TGT shares. Citigroup increased their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Bank of America raised their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen upped their price objective on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their price objective on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Roth Mkm raised their price objective on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.68.

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.