Arden Trust Co Sells 100 Shares of Target Co. (NYSE:TGT)

Arden Trust Co lowered its position in shares of Target Co. (NYSE:TGT) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 5,335 shares of the retailer’s stock after selling 100 shares during the quarter. Arden Trust Co’s holdings in Target were worth $840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in TGT. Public Employees Retirement Association of Colorado lifted its holdings in shares of Target by 4.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 95,887 shares of the retailer’s stock worth $8,915,000 after buying an additional 3,999 shares in the last quarter. Maverick Capital Ltd. bought a new stake in Target in the 1st quarter valued at about $898,000. Quantitative Investment Management LLC acquired a new position in shares of Target during the 1st quarter worth approximately $960,000. Barings LLC grew its position in shares of Target by 5.7% during the 1st quarter. Barings LLC now owns 33,636 shares of the retailer’s stock worth $3,127,000 after purchasing an additional 1,813 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Target by 19,293.4% during the first quarter. Tower Research Capital LLC TRC now owns 11,830 shares of the retailer’s stock worth $1,100,000 after purchasing an additional 11,769 shares during the period. 80.87% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE TGT opened at $164.92 on Friday. The company has a 50 day simple moving average of $153.59 and a 200 day simple moving average of $127.60. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.11 and a quick ratio of 0.55. Target Co. has a 1 year low of $90.17 and a 1 year high of $167.25. The firm has a market cap of $82.56 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 2.86 and a beta of 0.87.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 19th. The retailer reported $3.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $1.74. The firm had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $20.11 billion. Target had a net margin of 4.16% and a return on equity of 30.25%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 earnings per share. As a group, research analysts anticipate that Target Co. will post 7.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, November 17th. Target’s dividend payout ratio is currently 42.57%.

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Target in a research report on Thursday, October 8th. They set a “buy” rating on the stock. BMO Capital Markets increased their target price on Target from $135.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Thursday, August 20th. Jefferies Financial Group began coverage on shares of Target in a research report on Friday. They set a “hold” rating and a $180.00 price objective for the company. Finally, Raymond James reissued a “buy” rating and issued a $180.00 target price on shares of Target in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $141.21.

In other Target news, insider Don H. Liu sold 4,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $125.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 68,330 shares of the company’s stock, valued at approximately $8,541,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Don H. Liu sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $130.00, for a total transaction of $1,040,000.00. Following the transaction, the insider now owns 75,298 shares of the company’s stock, valued at approximately $9,788,740. The disclosure for this sale can be found here. Insiders have sold a total of 161,789 shares of company stock worth $24,624,422 over the last ninety days. Company insiders own 0.52% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

See Also: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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