NFJ Investment Group LLC Reduces Stock Holdings in Target Co. (NYSE:TGT)

NFJ Investment Group LLC cut its stake in Target Co. (NYSE:TGT) by 21.2% in the third quarter, Holdings Channel reports. The institutional investor owned 88,119 shares of the retailer’s stock after selling 23,686 shares during the period. NFJ Investment Group LLC’s holdings in Target were worth $13,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in Target by 9,940.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after purchasing an additional 1,981,458 shares during the last quarter. FMR LLC grew its position in Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the last quarter. AQR Capital Management LLC increased its stake in Target by 711.2% in the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after purchasing an additional 768,479 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Target during the third quarter valued at $106,493,000. Finally, Victory Capital Management Inc. increased its stake in Target by 11.4% in the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after buying an additional 440,307 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT traded down $0.92 during trading on Tuesday, reaching $129.80. 1,016,123 shares of the company’s stock traded hands, compared to its average volume of 4,457,887. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The company has a 50-day simple moving average of $148.86 and a 200-day simple moving average of $148.45. The firm has a market cap of $59.48 billion, a PE ratio of 13.86, a P/E/G ratio of 2.17 and a beta of 1.18.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS 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 business had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same period in the previous year, the business posted $2.10 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts predict that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed 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. This represents a $4.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 47.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TGT shares. Guggenheim reduced their target price on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Wells Fargo & Company reduced their price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. StockNews.com lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. Finally, Roth Mkm decreased their target price on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. One 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $160.30.

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.