Freedom Investment Management Inc. Trims Position in Target Co. (NYSE:TGT)

Freedom Investment Management Inc. trimmed its position in Target Co. (NYSE:TGT) by 38.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,394 shares of the retailer’s stock after selling 862 shares during the period. Freedom Investment Management Inc.’s holdings in Target were worth $217,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in shares of Target in the second quarter worth approximately $25,000. Slocum Gordon & Co LLP purchased a new position in shares of Target during the 2nd quarter worth $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Target during the 2nd quarter valued at $31,000. Wolff Wiese Magana LLC increased its stake in shares of Target by 156.5% in 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 in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Target in the 3rd quarter worth $38,000. 79.73% of the stock is currently owned by institutional investors.

Target Trading Up 1.7 %

Shares of NYSE TGT opened at $132.31 on Monday. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business’s 50 day moving average is $148.86 and its two-hundred day moving average is $148.45. The stock has a market capitalization of $60.95 billion, a P/E ratio of 14.03, a PEG ratio of 2.17 and a beta of 1.24.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.10 EPS. As a group, research analysts expect that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The company 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 is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.39%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’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 of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TGT. Jefferies Financial Group boosted their price target on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. StockNews.com downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Wells Fargo & Company decreased their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Melius Research began coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target for the company. Finally, TD Cowen decreased their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $160.30.

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.