Infusive Asset Management Inc. Sells 48,885 Shares of Target Co. (NYSE:TGT)

Infusive Asset Management Inc. reduced its position in shares of Target Co. (NYSE:TGT) by 65.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,988 shares of the retailer’s stock after selling 48,885 shares during the period. Target accounts for approximately 1.7% of Infusive Asset Management Inc.’s holdings, making the stock its 24th biggest position. Infusive Asset Management Inc.’s holdings in Target were worth $4,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans grew its stake in shares of Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after acquiring an additional 490 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Target by 8.6% during the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after buying an additional 9,510 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new stake in shares of Target in the 3rd quarter worth approximately $967,000. TAP Consulting LLC bought a new stake in shares of Target during the third quarter valued at approximately $2,403,000. Finally, Olstein Capital Management L.P. increased its position in shares of Target by 8.7% during the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock valued at $7,793,000 after purchasing an additional 4,000 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TGT. Sanford C. Bernstein initiated coverage on shares of Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price on the stock. Evercore ISI cut their price objective on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Stifel Nicolaus dropped their target price on shares of Target from $165.00 to $137.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and reduced their price target for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Finally, Melius Research initiated coverage on shares of Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average target price of $160.30.

Insider Buying and Selling at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the business’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 transaction of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $130.09 on Friday. The company has a market capitalization of $59.93 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.13 and a beta of 1.24. The stock has a fifty day simple moving average of $149.31 and a 200 day simple moving average of $148.78. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The business’s revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that Target Co. will post 8.6 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 47.51%.

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.