Todd Asset Management LLC Cuts Stock Position in Target Co. (NYSE:TGT)

Todd Asset Management LLC cut its holdings in Target Co. (NYSE:TGT) by 8.8% in the second quarter, HoldingsChannel reports. The firm owned 187,690 shares of the retailer’s stock after selling 18,076 shares during the quarter. Todd Asset Management LLC’s holdings in Target were worth $16,256,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Comerica Securities Inc. increased its position in shares of Target by 12.9% during the fourth quarter. Comerica Securities Inc. now owns 8,930 shares of the retailer’s stock worth $590,000 after buying an additional 1,020 shares during the period. Geode Capital Management LLC grew its holdings in Target by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock worth $460,727,000 after purchasing an additional 381,831 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Target in the first quarter worth $3,182,000. Bailard Inc. grew its holdings in Target by 2.2% in the first quarter. Bailard Inc. now owns 70,231 shares of the retailer’s stock worth $5,637,000 after purchasing an additional 1,539 shares during the period. Finally, Clean Yield Group grew its holdings in Target by 55.6% in the first quarter. Clean Yield Group now owns 1,035 shares of the retailer’s stock worth $83,000 after purchasing an additional 370 shares during the period. 82.12% of the stock is owned by hedge funds and other institutional investors.

TGT has been the subject of a number of research reports. Robert W. Baird set a $115.00 price target on shares of Target and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank upgraded shares of Target from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $99.00 in a report on Monday, August 5th. Sanford C. Bernstein restated a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. Buckingham Research restated a “buy” rating and issued a $117.00 price target (up from $102.00) on shares of Target in a report on Thursday. Finally, KeyCorp raised their price target on shares of Target from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $102.37.

Shares of TGT traded down $2.83 during trading hours on Friday, reaching $103.49. 7,959,850 shares of the stock traded hands, compared to its average volume of 8,036,583. The company has a current ratio of 0.84, a quick ratio of 0.19 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $86.87 and a 200 day simple moving average of $80.90. Target Co. has a 52 week low of $60.15 and a 52 week high of $106.52. The company has a market cap of $54.47 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.47 and a beta of 0.61.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The company had revenue of $18.42 billion for the quarter, compared to analyst estimates of $18.32 billion. During the same period last year, the firm earned $1.47 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Analysts predict that Target Co. will post 6.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.66 per share. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio (DPR) is presently 48.98%.

In related news, insider Don H. Liu sold 4,140 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $99.92, for a total transaction of $413,668.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Edward Mcnamara sold 11,891 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total transaction of $1,055,801.89. The disclosure for this sale can be found here. Insiders have sold 28,561 shares of company stock worth $2,576,357 over the last three months. 0.24% of the stock is owned by insiders.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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