RB Capital Management LLC Sells 497 Shares of Target Co. (NYSE:TGT)

RB Capital Management LLC lessened its stake in shares of Target Co. (NYSE:TGT) by 21.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,868 shares of the retailer’s stock after selling 497 shares during the period. RB Capital Management LLC’s holdings in Target were worth $291,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after buying an additional 2,732,801 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Target by 9,940.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after acquiring an additional 1,981,458 shares in the last quarter. Two Sigma Advisers LP increased its position in Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after purchasing an additional 1,502,200 shares during the period. FMR LLC raised its holdings in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after purchasing an additional 1,046,044 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after purchasing an additional 768,479 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Target

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 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Target Stock Up 2.2 %

TGT opened at $135.24 on Tuesday. The company has a fifty day moving average of $145.97 and a two-hundred day moving average of $147.52. The stock has a market capitalization of $61.97 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.17 and a beta of 1.17. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

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

Target Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.31%. Target’s dividend payout ratio is currently 47.51%.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Daiwa America cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. BMO Capital Markets lowered their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $165.00 price target on shares of Target in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.