Nissay Asset Management Corp Japan ADV Trims Holdings in Target Co. (NYSE:TGT)

Nissay Asset Management Corp Japan ADV trimmed its position in Target Co. (NYSE:TGT) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,245 shares of the retailer’s stock after selling 1,738 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Target were worth $8,819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. BlackRock Inc. lifted its holdings in shares of Target by 0.3% during the 1st quarter. BlackRock Inc. now owns 34,374,799 shares of the retailer’s stock worth $5,693,498,000 after acquiring an additional 92,702 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Target by 95,980.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after acquiring an additional 18,518,448 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Target by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,220,256 shares of the retailer’s stock worth $1,222,866,000 after acquiring an additional 120,794 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Target by 24.8% during the 1st quarter. Franklin Resources Inc. now owns 6,629,713 shares of the retailer’s stock worth $1,098,079,000 after acquiring an additional 1,317,219 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Target by 2.9% during the 4th quarter. Morgan Stanley now owns 6,481,880 shares of the retailer’s stock worth $966,059,000 after acquiring an additional 183,575 shares during the period. 78.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 30,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $130.70, for a total value of $3,921,000.00. Following the sale, the insider now directly owns 399,669 shares in the company, valued at $52,236,738.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

Target Stock Performance

Shares of TGT opened at $123.69 on Monday. The business’s fifty day moving average price is $130.03 and its 200 day moving average price is $144.44. Target Co. has a 12-month low of $120.75 and a 12-month high of $181.70. The stock has a market capitalization of $57.10 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.83 and a quick ratio of 0.18.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.39. The firm had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $25.18 billion. Target had a return on equity of 29.43% and a net margin of 3.12%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the business posted $0.39 earnings per share. Equities research analysts forecast that Target Co. will post 7.6 EPS for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.56%. This is a boost from Target’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Tuesday, August 15th. Target’s dividend payout ratio (DPR) is presently 60.44%.

Analysts Set New Price Targets

TGT has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Target from $220.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, August 14th. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and set a $134.00 price objective on the stock. in a report on Tuesday, August 22nd. TheStreet lowered shares of Target from a “b-” rating to a “c+” rating in a report on Friday, June 16th. DA Davidson reissued a “buy” rating and set a $193.00 target price on shares of Target in a research report on Wednesday, August 16th. Finally, TD Cowen dropped their target price on shares of Target from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Thursday, August 17th. Eighteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $159.21.

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.