International Assets Investment Management LLC Raises Stock Position in Target Co. (NYSE:TGT)

International Assets Investment Management LLC raised its holdings in Target Co. (NYSE:TGT) by 9,940.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,001,391 shares of the retailer’s stock after purchasing an additional 1,981,458 shares during the quarter. International Assets Investment Management LLC owned 0.43% of Target worth $311,937,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Legal & General Group Plc grew its holdings in Target by 6.8% during the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares during the period. Victory Capital Management Inc. boosted its position in Target by 11.4% in the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after purchasing an additional 440,307 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after purchasing an additional 470,647 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Target by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock valued at $461,031,000 after purchasing an additional 435,229 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of Target by 9.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after purchasing an additional 272,521 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 1.4 %

Shares of Target stock opened at $150.17 on Friday. The stock has a 50 day moving average of $153.07 and a 200 day moving average of $152.23. 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 firm has a market capitalization of $69.47 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.99 and a beta of 1.24. Target Co. has a fifty-two week low of $105.23 and a fifty-two week high of $181.86.

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

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of Target 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 completion of the sale, the insider now 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 Securities & Exchange Commission, which is accessible through this link. In other news, insider Richard H. Gomez sold 6,348 shares of the firm’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 transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TGT shares. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Monday, August 26th. Stifel Nicolaus lifted their price target on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Oppenheimer lowered their price target on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. StockNews.com cut Target from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

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.