Polar Asset Management Partners Inc. Cuts Position in Target Co. (NYSE:TGT)

Polar Asset Management Partners Inc. trimmed its position in Target Co. (NYSE:TGT) by 26.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,200 shares of the retailer’s stock after selling 7,200 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Target were worth $3,148,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Simplicity Wealth LLC raised its holdings in shares of Target by 17.2% during the 2nd quarter. Simplicity Wealth LLC now owns 11,378 shares of the retailer’s stock valued at $1,684,000 after buying an additional 1,666 shares during the period. BDF Gestion purchased a new stake in shares of Target during the 2nd quarter valued at about $1,862,000. CHICAGO TRUST Co NA raised its holdings in shares of Target by 4.3% during the 2nd quarter. CHICAGO TRUST Co NA now owns 4,229 shares of the retailer’s stock valued at $626,000 after buying an additional 173 shares during the period. Two Star Manager LLC raised its holdings in shares of Target by 23.0% during the 2nd quarter. Two Star Manager LLC now owns 74,159 shares of the retailer’s stock valued at $10,978,000 after buying an additional 13,880 shares during the period. Finally, City Holding Co. raised its holdings in shares of Target by 0.9% during the 2nd quarter. City Holding Co. now owns 19,271 shares of the retailer’s stock valued at $2,853,000 after buying an additional 177 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Down 1.0 %

Shares of Target stock opened at $130.08 on Thursday. The business’s fifty day moving average price is $147.38 and its two-hundred day moving average price is $147.91. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a market capitalization of $59.60 billion, a P/E ratio of 13.79, a PEG ratio of 2.14 and a beta of 1.17. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86.

Target (NYSE:TGT) last announced its earnings results 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 business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the firm earned $2.10 EPS. The firm’s revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that Target Co. will post 8.6 EPS for the current year.

Target Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. StockNews.com lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Sanford C. Bernstein assumed coverage on Target in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective for the company. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research note on Wednesday, November 20th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $195.00 price objective on shares of Target in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $160.30.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

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.