Optimum Investment Advisors Lowers Stake in Target Co. (NYSE:TGT)

Optimum Investment Advisors lowered its stake in shares of Target Co. (NYSE:TGT) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,076 shares of the retailer’s stock after selling 108 shares during the period. Optimum Investment Advisors’ holdings in Target were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Washington Trust Advisors Inc. lifted its holdings in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the period. Williams Jones Wealth Management LLC. lifted its holdings in shares of Target by 0.6% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after purchasing an additional 68 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares during the last quarter. Integral Investment Advisors Inc. lifted its holdings in shares of Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the last quarter. Finally, Haverford Trust Co lifted its holdings in shares of Target by 0.3% during the 1st quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock valued at $4,868,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 price objective on shares of Target in a report on Thursday, September 19th. Citigroup upped their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. TD Cowen upped their target price on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Jefferies Financial Group upped their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Bank of America upped their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

Target Trading Down 1.9 %

Shares of Target stock opened at $155.91 on Friday. The firm has a market capitalization of $72.13 billion, a PE ratio of 17.50, a P/E/G ratio of 1.99 and a beta of 1.24. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The firm’s 50-day moving average price is $151.83 and its 200 day moving average price is $153.04. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same period last year, the company posted $1.80 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 50.28%.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock valued at $8,290,995 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

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.