Pitcairn Co. Decreases Stock Holdings in Target Co. (NYSE:TGT)

Pitcairn Co. reduced its position in Target Co. (NYSE:TGT) by 19.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,040 shares of the retailer’s stock after selling 1,491 shares during the quarter. Pitcairn Co.’s holdings in Target were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Triad Wealth Partners LLC purchased a new stake in Target in the second quarter worth $25,000. Slocum Gordon & Co LLP purchased a new stake in Target in the second quarter worth $28,000. Hobbs Group Advisors LLC purchased a new stake in Target in the second quarter worth $31,000. Wolff Wiese Magana LLC increased its position 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 buying an additional 133 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Target in the third quarter worth $38,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of analyst reports. UBS Group raised their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and cut their price target for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Target in a report on Wednesday, August 21st. TD Cowen cut their price target on Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday. Finally, Jefferies Financial Group raised their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.13.

Target Stock Up 2.8 %

TGT opened at $125.01 on Monday. The company has a market cap of $57.59 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. The business’s 50-day moving average price is $151.27 and its 200-day moving average price is $149.54. The company has a current ratio of 0.94, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data 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). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Target Co. will post 9.58 EPS for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.58%. Target’s dividend payout ratio is presently 47.51%.

Insider Buying and Selling at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.15% of the company’s stock.

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.