Orion Portfolio Solutions LLC Cuts Stake in Target Co. (NYSE:TGT)

Orion Portfolio Solutions LLC lessened its stake in Target Co. (NYSE:TGT) by 6.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,590 shares of the retailer’s stock after selling 3,651 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Target were worth $7,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. Cynosure Group LLC grew its holdings in Target by 4.3% during the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares in the last quarter. Financial Advocates Investment Management increased its position in Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares during the last quarter. Hancock Whitney Corp raised its stake in Target by 3.3% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after purchasing an additional 68 shares in the last quarter. Beacon Capital Management LLC raised its stake in Target by 20.8% during the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares in the last quarter. Finally, Integral Investment Advisors Inc. grew its stake in shares of Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after buying an additional 69 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of NYSE:TGT opened at $132.39 on Monday. The firm has a 50 day moving average of $146.39 and a 200 day moving average of $147.59. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $60.66 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86.

Target (NYSE:TGT) last released its quarterly 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). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts predict that Target Co. will post 8.6 earnings per share 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 issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 47.51%.

Analyst Ratings Changes

TGT has been the subject of a number of analyst reports. HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a report on Wednesday, November 20th. Sanford C. Bernstein started coverage on Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective for the company. Wells Fargo & Company cut their target price on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and lowered their price target for the stock from $184.00 to $108.00 in a research report on Wednesday, November 20th. Finally, Guggenheim cut their price objective on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. One 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. Based on data from MarketBeat.com, Target presently has an average rating of “Hold” and an average price target of $160.30.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

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.