Northwest & Ethical Investments L.P. Trims Stock Position in Target Co. (NYSE:TGT)

Northwest & Ethical Investments L.P. decreased its position in Target Co. (NYSE:TGT) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,688 shares of the retailer’s stock after selling 304 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Target were worth $887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC purchased a new stake in Target in the first quarter valued at $77,000. Cetera Investment Advisers lifted its position in Target by 163.6% in the first quarter. Cetera Investment Advisers now owns 168,426 shares of the retailer’s stock valued at $29,847,000 after buying an additional 104,529 shares during the last quarter. Cetera Advisors LLC boosted its stake in Target by 142.4% during the first quarter. Cetera Advisors LLC now owns 60,879 shares of the retailer’s stock worth $10,788,000 after buying an additional 35,759 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Target by 19.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 231,620 shares of the retailer’s stock valued at $40,282,000 after acquiring an additional 37,948 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Target by 7.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,633 shares of the retailer’s stock valued at $289,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated 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. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.15% of the company’s stock.

Target Trading Up 1.8 %

NYSE TGT opened at $132.39 on Friday. The firm’s fifty day moving average price is $148.86 and its 200 day moving average price is $148.59. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a market capitalization of $60.99 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.13 and a beta of 1.24.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is currently 47.51%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $130.00 in a report on Tuesday. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, TD Cowen lowered their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $160.30.

About Target

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.