Dynamic Technology Lab Private Ltd Takes $3.04 Million Position in Target Co. (NYSE:TGT)

Dynamic Technology Lab Private Ltd acquired a new position in Target Co. (NYSE:TGT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,481 shares of the retailer’s stock, valued at approximately $3,036,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Target by 9,940.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after purchasing an additional 1,981,458 shares during the last quarter. Boston Partners bought a new position in Target during the first quarter valued at about $335,870,000. AQR Capital Management LLC raised its holdings in Target by 711.2% during the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after buying an additional 768,479 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Target in the third quarter worth about $106,493,000. Finally, Swedbank AB bought a new stake in shares of Target during the 1st quarter worth about $107,367,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Wells Fargo & Company dropped their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Guggenheim decreased their price objective on shares of Target from $180.00 to $145.00 and set a “buy” rating for the company in a report on Thursday. Evercore ISI lowered their target price on shares of Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday. Finally, Roth Mkm cut their target price on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.13.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s 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 sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 over the last 90 days. Insiders own 0.15% of the company’s stock.

Target Price Performance

Target stock opened at $125.01 on Monday. The business has a 50 day simple moving average of $151.27 and a 200 day simple moving average of $149.54. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a market capitalization of $57.59 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 2.05 and a beta of 1.24. 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 (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 earnings per share. On average, sell-side analysts forecast that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 47.51%.

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.