Financial Management Professionals Inc. Cuts Stock Position in Target Co. (NYSE:TGT)

Financial Management Professionals Inc. lessened its position in shares of Target Co. (NYSE:TGT) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,586 shares of the retailer’s stock after selling 181 shares during the quarter. Financial Management Professionals Inc.’s holdings in Target were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TGT. International Assets Investment Management LLC increased its position in shares of Target by 9,940.6% during the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after purchasing an additional 1,981,458 shares in the last quarter. Boston Partners acquired a new position in Target during the 1st quarter valued at about $335,870,000. AQR Capital Management LLC increased its position in Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after buying an additional 768,479 shares in the last quarter. Swedbank AB purchased a new stake in Target in the first quarter valued at about $107,367,000. Finally, Clearbridge Investments LLC boosted its holdings in Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after acquiring an additional 470,647 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Piper Sandler began coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price objective for the company. TD Cowen boosted their price objective on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction 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 sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the 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 transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.23% of the company’s stock.

Target Stock Performance

TGT opened at $151.16 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average price is $153.38 and its 200 day moving average price is $151.95. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The firm has a market capitalization of $69.93 billion, a PE ratio of 16.97, a PEG ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm 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 business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 earnings per share. As a group, sell-side analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Target 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.