Oppenheimer & Co. Inc. Lowers Position in Target Co. (TGT)

Oppenheimer & Co. Inc. lowered its position in shares of Target Co. (NYSE:TGT) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,248 shares of the retailer’s stock after selling 1,495 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Target were worth $3,109,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TGT. Millennium Management LLC boosted its position in Target by 305.9% during the 1st quarter. Millennium Management LLC now owns 135,772 shares of the retailer’s stock worth $9,427,000 after acquiring an additional 102,325 shares during the last quarter. WINTON GROUP Ltd boosted its position in Target by 20.8% during the 1st quarter. WINTON GROUP Ltd now owns 7,435 shares of the retailer’s stock worth $516,000 after acquiring an additional 1,278 shares during the last quarter. Principal Financial Group Inc. boosted its position in Target by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 947,868 shares of the retailer’s stock worth $65,810,000 after acquiring an additional 9,594 shares during the last quarter. Neville Rodie & Shaw Inc. acquired a new position in Target during the 2nd quarter worth approximately $1,113,000. Finally, Cibc Bank USA acquired a new position in Target during the 2nd quarter worth approximately $932,000. 83.90% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Stephanie A. Lundquist sold 2,100 shares of the stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Janna A. Potts sold 15,172 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $88.00, for a total value of $1,335,136.00. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

NYSE TGT opened at $85.77 on Wednesday. The company has a market capitalization of $43.13 billion, a PE ratio of 18.21, a P/E/G ratio of 2.32 and a beta of 0.70. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.17. Target Co. has a 12 month low of $54.04 and a 12 month high of $90.39.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.07. Target had a return on equity of 24.29% and a net margin of 4.19%. The business had revenue of $17.78 billion for the quarter, compared to analysts’ expectations of $17.33 billion. During the same quarter in the prior year, the business earned $1.23 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Target Co. will post 5.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Tuesday, November 20th. Target’s dividend payout ratio (DPR) is presently 54.35%.

A number of equities analysts have weighed in on TGT shares. Robert W. Baird upped their price target on Target from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. Wolfe Research downgraded Target from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 23rd. Guggenheim reaffirmed a “hold” rating on shares of Target in a research report on Wednesday, August 22nd. Bank of America set a $90.00 price objective on Target and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, Citigroup increased their price objective on Target from $76.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 27th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $87.68.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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