First Horizon Advisors Inc. Sells 1,835 Shares of Target Co. (NYSE:TGT)

First Horizon Advisors Inc. cut its stake in Target Co. (NYSE:TGT) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,235 shares of the retailer’s stock after selling 1,835 shares during the period. First Horizon Advisors Inc.’s holdings in Target were worth $2,375,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. TAP Consulting LLC bought a new stake in Target in the 3rd quarter valued at $2,403,000. Olstein Capital Management L.P. lifted its holdings in shares of Target by 8.7% during the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after acquiring an additional 4,000 shares during the period. Smead Capital Management Inc. lifted its holdings in shares of Target by 3.4% during the 3rd quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer’s stock worth $193,879,000 after acquiring an additional 41,394 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Target by 20.5% during the 1st quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock worth $38,484,000 after acquiring an additional 36,941 shares during the period. Finally, Eagle Rock Investment Company LLC lifted its holdings in shares of Target by 166.3% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock worth $2,522,000 after acquiring an additional 10,103 shares during the period. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TGT shares. Daiwa America raised shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Monday, August 26th. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Bank of America lifted their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI reduced their price objective on shares of Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $171.90.

Target Stock Performance

NYSE:TGT opened at $121.73 on Thursday. The company has a market capitalization of $56.08 billion, a PE ratio of 12.58, a P/E/G ratio of 1.98 and a beta of 1.24. The company has a 50 day simple moving average of $152.33 and a two-hundred day simple moving average of $150.12. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last announced 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). The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business earned $2.10 EPS. Research analysts anticipate that Target Co. will post 9.55 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 46.28%.

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.