United Services Automobile Association Sells 25,847 Shares of Target Co. (NYSE:TGT)

United Services Automobile Association lowered its stake in shares of Target Co. (NYSE:TGT) by 25.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 75,715 shares of the retailer’s stock after selling 25,847 shares during the quarter. United Services Automobile Association’s holdings in Target were worth $11,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TGT. Triad Wealth Partners LLC bought a new stake in Target during the 2nd quarter valued at about $25,000. Slocum Gordon & Co LLP purchased a new position in Target in the second quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in shares of Target during the 2nd quarter worth approximately $31,000. Wolff Wiese Magana LLC increased its position in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Target in the third quarter worth about $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 2.5 %

Shares of TGT stock opened at $132.41 on Friday. The firm’s fifty day simple moving average is $146.84 and its 200 day simple moving average is $147.78. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $60.67 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 EPS. As a group, sell-side analysts predict that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 47.51%.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction 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 sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TGT shares. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price objective on shares of Target in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and dropped their target price for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Target in a report on Monday, November 25th. StockNews.com cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, Piper Sandler cut their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Target currently has an average rating of “Hold” and an average target price 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.