Neo Ivy Capital Management Boosts Position in Target Co. (NYSE:TGT)

Neo Ivy Capital Management raised its stake in Target Co. (NYSE:TGT) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,454 shares of the retailer’s stock after acquiring an additional 694 shares during the quarter. Target makes up 0.8% of Neo Ivy Capital Management’s portfolio, making the stock its 27th biggest holding. Neo Ivy Capital Management’s holdings in Target were worth $2,408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Coldstream Capital Management Inc. raised its holdings in shares of Target by 6.7% in the third quarter. Coldstream Capital Management Inc. now owns 10,042 shares of the retailer’s stock worth $1,565,000 after acquiring an additional 633 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after acquiring an additional 130,691 shares during the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Target in the third quarter worth $61,000. Prestige Wealth Management Group LLC raised its holdings in shares of Target by 29.1% in the third quarter. Prestige Wealth Management Group LLC now owns 444 shares of the retailer’s stock worth $69,000 after acquiring an additional 100 shares during the last quarter. Finally, Resources Management Corp CT ADV raised its holdings in shares of Target by 3.6% in the third quarter. Resources Management Corp CT ADV now owns 11,881 shares of the retailer’s stock worth $1,852,000 after acquiring an additional 412 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TGT has been the subject of several analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $165.00 target price on shares of Target in a research note on Monday, November 25th. Jefferies Financial Group upped their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and dropped their target price for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein initiated coverage on Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price for the company. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and a consensus target price of $160.57.

Target Trading Down 0.1 %

Shares of TGT opened at $135.09 on Wednesday. The company has a market capitalization of $61.90 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.17 and a beta of 1.17. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a 50-day moving average price of $145.97 and a 200 day moving average price of $147.52.

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

Target Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, November 20th. Target’s dividend payout ratio is currently 47.51%.

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.