Target Co. (NYSE:TGT) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in Target Co. (NYSE:TGT) by 66.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 40,290 shares of the retailer’s stock after selling 79,136 shares during the period. Intech Investment Management LLC’s holdings in Target were worth $7,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target during the fourth quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new stake in shares of Target in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Target during the fourth quarter worth about $29,000. Scarborough Advisors LLC purchased a new position in shares of Target during the fourth quarter worth about $29,000. Finally, Godsey & Gibb Inc. grew its holdings in shares of Target by 148.6% during the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after buying an additional 104 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TGT. Gordon Haskett increased their price objective on Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Truist Financial cut their price objective on shares of Target from $160.00 to $153.00 and set a “hold” rating for the company in a research report on Thursday, May 23rd. BNP Paribas began coverage on shares of Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price on the stock. Finally, Tigress Financial increased their price target on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average price target of $176.57.

Target Price Performance

Shares of TGT traded down $2.36 during trading hours on Friday, reaching $149.73. 3,186,989 shares of the company traded hands, compared to its average volume of 3,721,927. The stock has a fifty day simple moving average of $149.09 and a 200 day simple moving average of $154.14. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The stock has a market capitalization of $69.27 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The firm had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. As a group, research analysts predict that Target Co. will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 50.28%.

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.