Goelzer Investment Management Inc. Reduces Stake in Target Co. (NYSE:TGT)

Goelzer Investment Management Inc. cut its holdings in shares of Target Co. (NYSE:TGT) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,057 shares of the retailer’s stock after selling 484 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Target were worth $6,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Little House Capital LLC acquired a new position in Target during the first quarter valued at $1,041,000. Nordea Investment Management AB raised its position in Target by 23.6% during the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after acquiring an additional 122,706 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after acquiring an additional 6,690 shares during the period. Janney Capital Management LLC purchased a new stake in Target in the 1st quarter worth approximately $13,958,000. Finally, Wellington Management Group LLP grew its stake in shares of Target by 864.4% during the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after purchasing an additional 51,639 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Up 2.2 %

NYSE TGT traded up $3.28 on Friday, reaching $152.88. 3,557,483 shares of the company were exchanged, compared to its average volume of 4,000,033. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The business’s fifty day moving average price is $149.11 and its 200 day moving average price is $154.08. The stock has a market capitalization of $70.73 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) 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 firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter in the prior year, the firm posted $1.80 earnings per share. Target’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is presently 50.28%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TGT shares. Roth Mkm boosted their target price on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Citigroup increased their target price on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their target price on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer reduced their price target on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Daiwa America raised Target to a “strong-buy” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.69.

Insider Activity at Target

In other Target 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 transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.23% of the company’s stock.

Target 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.