Carnegie Capital Asset Management LLC Acquires Shares of 8,117 Target Co. (NYSE:TGT)

Carnegie Capital Asset Management LLC bought a new stake in Target Co. (NYSE:TGTGet Rating) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,117 shares of the retailer’s stock, valued at approximately $1,962,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Norges Bank acquired a new position in shares of Target in the 4th quarter worth approximately $1,094,330,000. Capital World Investors boosted its holdings in Target by 22.9% in the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after purchasing an additional 1,666,948 shares during the period. Nordea Investment Management AB increased its stake in Target by 73.9% during the first quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock valued at $414,599,000 after purchasing an additional 808,485 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Target by 1,140.3% during the first quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock worth $148,934,000 after purchasing an additional 645,209 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Target by 40.3% in the 4th quarter. Alliancebernstein L.P. now owns 2,148,499 shares of the retailer’s stock worth $497,249,000 after buying an additional 617,060 shares during the last quarter. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Down 3.8 %

NYSE TGT opened at $152.96 on Friday. The company has a market capitalization of $70.40 billion, a P/E ratio of 17.38, a PEG ratio of 2.00 and a beta of 1.02. Target Co. has a 12 month low of $137.16 and a 12 month high of $268.98. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14. The company’s 50 day simple moving average is $163.84 and its 200 day simple moving average is $182.03.

Target (NYSE:TGTGet Rating) last posted its quarterly earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.32). The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $26.07 billion. Target had a net margin of 3.92% and a return on equity of 35.15%. Target’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.64 EPS. Equities research analysts expect that Target Co. will post 8.11 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.82%. Target’s dividend payout ratio is currently 49.09%.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,226 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the completion of the sale, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at $488,725.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Target news, CAO Matthew A. Liegel sold 1,226 shares of Target stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at approximately $488,725.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John J. Mulligan sold 39,101 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares of the company’s stock, valued at approximately $19,660,918.50. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Target from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 8th. KeyCorp initiated coverage on Target in a research report on Wednesday, September 14th. They set an “overweight” rating and a $200.00 price target on the stock. Tigress Financial lowered their price objective on Target from $320.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, July 29th. JPMorgan Chase & Co. raised their target price on Target from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Finally, TheStreet cut shares of Target from a “b-” rating to a “c+” rating in a report on Friday, June 24th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus target price of $193.67.

Target Company Profile

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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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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