New York State Common Retirement Fund Sells 48,300 Shares of Target Co. (NYSE:TGT)

New York State Common Retirement Fund trimmed its holdings in Target Co. (NYSE:TGT) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 579,797 shares of the retailer’s stock after selling 48,300 shares during the quarter. New York State Common Retirement Fund’s holdings in Target were worth $90,367,000 at the end of the most recent quarter.

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

Insider Transactions at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the 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 transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of Target 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 transaction, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred 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 directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is currently owned by insiders.

Target Stock Up 0.5 %

Shares of NYSE:TGT opened at $150.84 on Friday. The firm has a market capitalization of $69.49 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 1 year low of $105.23 and a 1 year high of $181.86. The firm’s 50-day moving average is $153.04 and its two-hundred day moving average is $151.40.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.80 earnings per share. Analysts predict that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

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 paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.97%. Target’s dividend payout ratio is currently 46.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TGT shares. Wells Fargo & Company lifted their price target on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. TD Cowen lifted their target price on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, August 26th. Melius Research started coverage on Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Finally, Piper Sandler assumed coverage on shares of Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

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.