Bartlett & CO. Wealth Management LLC Decreases Stake in Target Co. (NYSE:TGT)

Bartlett & CO. Wealth Management LLC lessened its stake in Target Co. (NYSE:TGT) by 0.9% in the third quarter, HoldingsChannel.com reports. The firm owned 23,144 shares of the retailer’s stock after selling 205 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Target were worth $3,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TGT. Little House Capital LLC acquired a new stake in shares of Target during the 1st quarter worth about $1,041,000. Nordea Investment Management AB lifted its holdings in Target by 23.6% in the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after buying an additional 122,706 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after purchasing an additional 6,690 shares during the last quarter. Janney Capital Management LLC acquired a new stake in Target in the first quarter valued at $13,958,000. Finally, Wellington Management Group LLP grew its position in shares of Target by 864.4% in the 4th quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after acquiring an additional 51,639 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 0.6 %

TGT stock opened at $156.84 on Friday. The business’s 50 day simple moving average is $152.25 and its 200 day simple moving average is $152.73. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The firm has a market capitalization of $72.56 billion, a PE ratio of 17.60, a PEG ratio of 1.99 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $1.80 earnings per share. As a group, research analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The company 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.86%. Target’s payout ratio is 50.28%.

Insider Buying and Selling

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 directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TGT. Stifel Nicolaus boosted their price objective on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. TD Cowen boosted their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. UBS Group lifted their target price on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Bank of America upped their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Jefferies Financial Group upped their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

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.