UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 62,916 Shares of Target Co. (NYSE:TGT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Target Co. (NYSE:TGT) by 1.9% in the third quarter, Holdings Channel.com reports. The fund owned 3,321,055 shares of the retailer’s stock after purchasing an additional 62,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Target were worth $517,620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Triad Wealth Partners LLC bought a new position in shares of Target during the second quarter valued at approximately $25,000. Slocum Gordon & Co LLP bought a new position in shares of Target during the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC bought a new position in shares of Target during the second quarter valued at approximately $31,000. Wolff Wiese Magana LLC raised its holdings in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Target during the second quarter valued at approximately $37,000. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Target Trading Up 2.8 %

Target stock opened at $130.09 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a one year low of $120.21 and a one year high of $181.86. The stock has a market capitalization of $59.93 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. The business’s fifty day moving average is $149.31 and its 200 day moving average is $148.78.

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

Target Dividend Announcement

The company also recently announced 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. This represents a $4.48 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is 47.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler reduced their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $170.00 to $130.00 in a research note on Tuesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 price target on shares of Target in a research note on Wednesday, November 20th. Finally, UBS Group upped their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $160.30.

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.