Target Co. (NYSE:TGT) Stake Lowered by International Assets Investment Management LLC

International Assets Investment Management LLC cut its stake in shares of Target Co. (NYSE:TGTGet Rating) by 25.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,673 shares of the retailer’s stock after selling 6,037 shares during the quarter. International Assets Investment Management LLC’s holdings in Target were worth $2,437,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TGT. Allspring Global Investments Holdings LLC acquired a new position in shares of Target during the fourth quarter worth approximately $162,042,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Target by 34.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,101,878 shares of the retailer’s stock valued at $480,847,000 after acquiring an additional 536,364 shares during the last quarter. Capital World Investors lifted its position in shares of Target by 7.2% during the 3rd quarter. Capital World Investors now owns 7,275,047 shares of the retailer’s stock valued at $1,664,313,000 after acquiring an additional 485,927 shares during the last quarter. Assetmark Inc. lifted its position in shares of Target by 112.7% during the 3rd quarter. Assetmark Inc. now owns 611,716 shares of the retailer’s stock valued at $139,942,000 after acquiring an additional 324,105 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Target by 10.7% during the 2nd quarter. Morgan Stanley now owns 3,164,273 shares of the retailer’s stock valued at $764,931,000 after acquiring an additional 305,955 shares during the last quarter. 81.83% of the stock is owned by institutional investors.

Shares of TGT stock traded up $2.46 on Friday, reaching $219.73. The stock had a trading volume of 3,146,691 shares, compared to its average volume of 3,295,687. The company has a quick ratio of 0.35, a current ratio of 0.99 and a debt-to-equity ratio of 1.06. The firm’s 50-day moving average is $225.36 and its two-hundred day moving average is $228.65. The firm has a market capitalization of $101.88 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 0.89 and a beta of 0.94. Target Co. has a 12 month low of $184.00 and a 12 month high of $268.98.

Target (NYSE:TGTGet Rating) last issued its earnings results on Tuesday, March 1st. The retailer reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.33. The company had revenue of $31 billion for the quarter, compared to analysts’ expectations of $31.40 billion. Target had a net margin of 6.55% and a return on equity of 47.35%. Target’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.67 EPS. On average, sell-side analysts forecast that Target Co. will post 14.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Wednesday, May 18th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.64%. Target’s payout ratio is presently 25.59%.

A number of research firms have recently weighed in on TGT. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Morgan Stanley dropped their price target on shares of Target from $260.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 18th. Truist Financial decreased their price objective on shares of Target from $270.00 to $261.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. JPMorgan Chase & Co. upped their price objective on shares of Target from $262.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Finally, Evercore ISI began coverage on shares of Target in a report on Friday, February 25th. They issued a “hold” rating and a $235.00 price objective for the company. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $277.23.

In related news, CAO Robert M. Harrison sold 2,080 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $217.87, for a total value of $453,169.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian C. Cornell sold 30,000 shares of the firm’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $216.35, for a total transaction of $6,490,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 99,363 shares of company stock worth $21,970,253 in the last quarter. 0.29% of the stock is currently owned by company insiders.

Target Company Profile (Get Rating)

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

See Also

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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