CX Institutional Lowers Stock Position in Target Co. (NYSE:TGT)

CX Institutional cut its holdings in Target Co. (NYSE:TGT) by 85.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,654 shares of the retailer’s stock after selling 21,302 shares during the quarter. CX Institutional’s holdings in Target were worth $569,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Boston Partners bought a new stake in shares of Target in the 1st quarter worth approximately $335,870,000. AQR Capital Management LLC raised its stake in Target by 711.2% during the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after buying an additional 768,479 shares during the last quarter. Swedbank AB bought a new stake in Target in the first quarter worth $107,367,000. Clearbridge Investments LLC grew its stake in shares of Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after acquiring an additional 470,647 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

NYSE TGT opened at $158.88 on Thursday. The stock has a market cap of $73.50 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.99 and a beta of 1.24. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The company’s 50 day moving average is $151.39 and its two-hundred day moving average is $153.02. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the previous year, the company earned $1.80 EPS. Target’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

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 paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 50.28%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup increased their price objective on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Daiwa America raised shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. Piper Sandler started coverage on Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target for the company. Finally, Wells Fargo & Company upped their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $179.69.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated 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 $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 in the last three months. 0.23% of the stock is owned by company 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.