Commerce Bank Sells 1,867 Shares of Target Co. (NYSE:TGT)

Commerce Bank cut its position in shares of Target Co. (NYSE:TGT) by 1.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,319 shares of the retailer’s stock after selling 1,867 shares during the quarter. Commerce Bank’s holdings in Target were worth $15,012,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TGT. International Assets Investment Management LLC grew its holdings 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 buying an additional 1,981,458 shares in the last quarter. Boston Partners bought a new position in shares of Target during the first quarter worth about $335,870,000. AQR Capital Management LLC grew its holdings in shares of Target by 711.2% during the second 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 in the last quarter. Swedbank AB bought a new position in shares of Target during the first quarter worth about $107,367,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after buying an additional 440,307 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of Target 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 in the company, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction 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 transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $121.73 on Thursday. The stock has a market capitalization of $56.08 billion, a PE ratio of 12.58, a P/E/G ratio of 1.98 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. The business has a fifty day moving average price of $152.33 and a two-hundred day moving average price of $150.12. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data 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). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 earnings per share. As a group, equities analysts predict that Target Co. will post 9.55 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.68%. Target’s dividend payout ratio is presently 46.28%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a research note on Wednesday. Wells Fargo & Company decreased their price target on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday. Melius Research assumed coverage on Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target for the company. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price target on shares of Target in a research note on Wednesday. Finally, Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.90.

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.