Target Co. (TGT) Holdings Cut by FineMark National Bank & Trust

FineMark National Bank & Trust decreased its holdings in shares of Target Co. (NYSE:TGT) by 76.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,175 shares of the retailer’s stock after selling 10,485 shares during the quarter. FineMark National Bank & Trust’s holdings in Target were worth $280,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Target by 5.3% during the second quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock worth $3,255,697,000 after buying an additional 2,161,982 shares during the period. LSV Asset Management boosted its position in shares of Target by 1.2% during the second quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock worth $570,620,000 after buying an additional 90,489 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Target by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,266,772 shares of the retailer’s stock worth $324,768,000 after buying an additional 106,616 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Target by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,908,902 shares of the retailer’s stock worth $297,546,000 after buying an additional 34,470 shares during the period. Finally, Swedbank purchased a new position in shares of Target during the third quarter worth $198,324,000. 84.04% of the stock is owned by institutional investors.

In other Target news, insider Stephanie A. Lundquist sold 2,100 shares of Target stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Janna A. Potts sold 15,172 shares of Target stock in a transaction that occurred 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. Insiders own 0.19% of the company’s stock.

A number of research analysts recently issued reports on the company. Telsey Advisory Group upgraded Target from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $100.00 in a report on Thursday, August 23rd. Wolfe Research lowered Target from an “outperform” rating to a “market perform” rating in a report on Thursday, August 23rd. Loop Capital set a $102.00 target price on Target and gave the company a “hold” rating in a report on Friday, August 17th. Citigroup lifted their target price on Target from $76.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 27th. Finally, BMO Capital Markets assumed coverage on Target in a report on Monday, September 17th. They issued a “market perform” rating and a $88.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $88.74.

Shares of NYSE TGT opened at $87.60 on Friday. The stock has a market cap of $45.05 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.73. The company has a quick ratio of 0.17, a current ratio of 0.82 and a debt-to-equity ratio of 1.09. Target Co. has a 1 year low of $54.04 and a 1 year high of $90.39.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.92%. The ex-dividend date is Tuesday, November 20th. Target’s dividend payout ratio (DPR) is presently 54.35%.

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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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