Penserra Capital Management LLC Decreases Stock Holdings in Target Co. (NYSE:TGT)

Penserra Capital Management LLC cut its stake in Target Co. (NYSE:TGT) by 18.9% in the third quarter, Holdings Channel.com reports. The firm owned 4,694 shares of the retailer’s stock after selling 1,093 shares during the quarter. Penserra Capital Management LLC’s holdings in Target were worth $731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Triad Wealth Partners LLC purchased a new stake in Target in the 2nd quarter valued at $25,000. Slocum Gordon & Co LLP purchased a new stake in shares of Target in the second quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new stake in Target during the second quarter worth about $31,000. Wolff Wiese Magana LLC raised its stake in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Target in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The trade was a 12.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TGT. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $170.00 to $130.00 in a research report on Tuesday. Piper Sandler decreased their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Oppenheimer reiterated an “outperform” rating and set a $165.00 price target on shares of Target in a research report on Monday. Finally, Stifel Nicolaus decreased their price objective on shares of Target from $165.00 to $137.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $160.30.

Target Stock Up 2.8 %

Shares of NYSE TGT opened at $130.11 on Thursday. The business has a 50-day moving average of $149.84 and a two-hundred day moving average of $148.92. The company has a market capitalization of $59.94 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 EPS. On average, analysts forecast that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.44%. Target’s dividend payout ratio is currently 47.51%.

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.