Target Co. (NYSE:TGT) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its stake in shares of Target Co. (NYSE:TGT) by 34.9% in the third quarter, Holdings Channel.com reports. The fund owned 292,694 shares of the retailer’s stock after selling 156,873 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Target were worth $45,150,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Benedict Financial Advisors Inc. grew its holdings in shares of Target by 0.4% in the third quarter. Benedict Financial Advisors Inc. now owns 20,453 shares of the retailer’s stock valued at $3,188,000 after purchasing an additional 89 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Target by 4.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 155,730 shares of the retailer’s stock valued at $24,272,000 after purchasing an additional 6,501 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of Target by 9.6% in the third quarter. Forsta AP Fonden now owns 123,600 shares of the retailer’s stock valued at $19,264,000 after purchasing an additional 10,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Target by 7.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,734 shares of the retailer’s stock valued at $20,443,000 after purchasing an additional 8,823 shares in the last quarter. Finally, Capital Management Associates Inc acquired a new position in shares of Target in the third quarter valued at approximately $734,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective for the company. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Jefferies Financial Group boosted their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Stifel Nicolaus boosted their price target on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Citigroup boosted their price target on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Target Stock Performance

NYSE:TGT opened at $149.30 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86. The stock has a market cap of $69.07 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The firm’s fifty day simple moving average is $153.48 and its 200-day simple moving average is $151.66.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping 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 business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the prior year, the company posted $1.80 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid 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 yield of 3.00%. Target’s payout ratio is 50.28%.

Insider Activity at Target

In related news, 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 value of $153,130.00. Following the sale, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. 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.