Target Co. (NYSE:TGT) Position Lowered by Robeco Institutional Asset Management B.V.

Posted by Defense World Staff on Mar 18th, 2023

Target logo Robeco Institutional Asset Management B.V. decreased its stake in shares of Target Co. (NYSE:TGT – Get Rating) by 60.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,427 shares of the retailer’s stock after selling 155,462 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Target were worth $15,201,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc lifted its holdings in Target by 122.1% in the third quarter. Bell Investment Advisors Inc now owns 191 shares of the retailer’s stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Annapolis Financial Services LLC lifted its holdings in Target by 96.2% in the third quarter. Annapolis Financial Services LLC now owns 206 shares of the retailer’s stock worth $30,000 after acquiring an additional 101 shares during the last quarter. EdgeRock Capital LLC bought a new position in Target in the third quarter worth about $34,000. Wellington Shields & Co. LLC bought a new position in Target in the second quarter worth about $35,000. Finally, McClarren Financial Advisors Inc. bought a new position in Target in the third quarter worth about $37,000. Institutional investors own 78.86% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Target in a report on Thursday. They issued a “hold” rating on the stock. Credit Suisse Group raised their price target on shares of Target from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating and set a $132.00 price target on the stock. in a research note on Wednesday, December 21st. Cowen dropped their price target on shares of Target from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 15th. Finally, Raymond James raised their price target on shares of Target from $185.00 to $195.00 and gave the company a “strong-buy” rating in a research note on Thursday, March 2nd. Thirteen analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and an average target price of $181.69.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 35,000 shares of Target stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the transaction, the insider now directly owns 191,272 shares in the company, valued at approximately $30,408,422.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Target Trading Down 2.3 %

NYSE TGT opened at $159.36 on Friday. Target Co. has a twelve month low of $137.16 and a twelve month high of $254.87. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.22 and a current ratio of 0.92. The stock has a market cap of $73.36 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.27 and a beta of 1.05. The firm’s 50 day moving average price is $166.27 and its two-hundred day moving average price is $160.73.

Target (NYSE:TGT – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The retailer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.49. Target had a net margin of 2.55% and a return on equity of 25.63%. The firm had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $30.73 billion. During the same period in the previous year, the company posted $3.19 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Target Co. will post 8.38 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 17th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, May 16th. Target’s payout ratio is 72.24%.

About Target

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.