Independent Advisor Alliance Boosts Holdings in Target Co. (NYSE:TGT)

Independent Advisor Alliance increased its holdings in Target Co. (NYSE:TGT) by 7.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,249 shares of the retailer’s stock after purchasing an additional 2,417 shares during the period. Independent Advisor Alliance’s holdings in Target were worth $5,494,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Target by 9,940.6% during the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after buying an additional 1,981,458 shares during the period. Boston Partners purchased a new stake in Target during the 1st quarter valued at about $335,870,000. AQR Capital Management LLC grew its position in Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after acquiring an additional 768,479 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Target in the 3rd quarter worth approximately $106,493,000. Finally, Swedbank AB purchased a new stake in shares of Target during the first quarter valued at approximately $107,367,000. Institutional investors own 79.73% of the company’s stock.

Target Trading Up 2.8 %

Shares of NYSE TGT opened at $125.01 on Monday. The company has a market cap of $57.59 billion, a PE ratio of 13.26, a P/E/G ratio of 2.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm’s 50 day moving average price is $151.27 and its 200-day moving average price is $149.54. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 EPS. On average, equities research analysts expect that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

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

Wall Street Analysts Forecast Growth

TGT has been the topic of several analyst reports. TD Cowen decreased their target price on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday. Melius Research assumed coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Citigroup downgraded Target from a “buy” rating to a “neutral” rating and reduced their price target for the company from $188.00 to $130.00 in a report on Wednesday, November 20th. Finally, HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $162.13.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the company’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 owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 over the last three months. 0.15% of the stock is currently owned by company insiders.

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.