Silicon Valley Capital Partners Sells 1,050 Shares of Target Co. (NYSE:TGT)

Silicon Valley Capital Partners trimmed its holdings in shares of Target Co. (NYSE:TGT) by 23.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,443 shares of the retailer’s stock after selling 1,050 shares during the period. Silicon Valley Capital Partners’ holdings in Target were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in shares of Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after acquiring an additional 279,656 shares during the period. Victory Capital Management Inc. grew its stake in Target by 11.4% in the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after purchasing an additional 440,307 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after purchasing an additional 470,647 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Target by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock valued at $461,031,000 after buying an additional 435,229 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Target by 9.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after buying an additional 272,521 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Transactions at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Richard H. Gomez sold 6,348 shares of the firm’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 value of $997,715.16. Following the transaction, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now 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. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 in the last three months. 0.15% of the stock is currently owned by company insiders.

Target Price Performance

Shares of NYSE TGT opened at $151.00 on Monday. 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 firm’s 50 day simple moving average is $153.04 and its 200-day simple moving average is $151.23. Target Co. has a 12 month low of $105.23 and a 12 month high of $181.86. The stock has a market capitalization of $69.56 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.94 and a beta of 1.24.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the prior year, the firm posted $1.80 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Analysts expect that Target Co. will post 9.54 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 46.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Stifel Nicolaus upped their price target on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein began coverage on Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective for the company. Oppenheimer reduced their target price on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada raised their price target on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Target presently has an average rating of “Moderate Buy” and an average price target of $179.47.

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.