Wellington Management Group LLP Decreases Stake in Target Co. (NYSE:TGT)

Wellington Management Group LLP cut its holdings in shares of Target Co. (NYSE:TGT) by 48.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 50,131 shares of the retailer’s stock after selling 46,700 shares during the quarter. Wellington Management Group LLP’s holdings in Target were worth $7,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Slocum Gordon & Co LLP purchased a new stake in shares of Target during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in Target during the second quarter valued at approximately $31,000. Wolff Wiese Magana LLC boosted its holdings in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Target in the 3rd quarter worth approximately $36,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Target in the 3rd quarter worth approximately $38,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Down 0.6 %

Shares of TGT opened at $134.52 on Monday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $144.69 and a 200 day moving average of $147.21. The company has a market cap of $61.64 billion, a PE ratio of 14.27, a P/E/G ratio of 2.23 and a beta of 1.17. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a $1.12 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.33%. Target’s payout ratio is 47.51%.

Analyst Upgrades and Downgrades

TGT has been the topic of several research analyst reports. Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Bank of America lowered their target price on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Wells Fargo & Company reduced their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price objective on shares of Target in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and cut their target price for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and an average price target of $160.57.

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value 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 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

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.