Sentry Investment Management LLC Decreases Stake in Target Co. (NYSE:TGT)

Sentry Investment Management LLC lessened its holdings in shares of Target Co. (NYSE:TGT) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,004 shares of the retailer’s stock after selling 411 shares during the quarter. Sentry Investment Management LLC’s holdings in Target were worth $297,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in Target during the 2nd quarter valued at about $25,000. Washington Trust Advisors Inc. grew its position in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Slocum Gordon & Co LLP acquired a new stake in shares of Target in the second quarter valued at approximately $28,000. Retirement Group LLC lifted its position in Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after buying an additional 91 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Target during the fourth quarter worth $28,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 in the company, valued at $1,114,173.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Brian C. Cornell sold 45,000 shares of the company’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 value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $147.20 on Thursday. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The stock has a market capitalization of $68.10 billion, a PE ratio of 16.52, a PEG ratio of 1.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The stock has a 50-day simple moving average of $147.83 and a 200-day simple moving average of $155.06.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Target Co. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TGT. JPMorgan Chase & Co. raised their target price on Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Robert W. Baird reaffirmed an “outperform” rating and set a $190.00 target price on shares of Target in a research note on Thursday, May 23rd. Evercore ISI increased their price target on shares of Target from $158.00 to $160.00 and gave the company an “inline” rating in a research note on Thursday, August 22nd. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, August 26th. Finally, Stifel Nicolaus increased their price objective on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and an average price target of $179.68.

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.