Kingsview Wealth Management LLC Trims Stock Position in Target Co. (NYSE:TGT)

Kingsview Wealth Management LLC decreased its position in shares of Target Co. (NYSE:TGT) by 42.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,833 shares of the retailer’s stock after selling 12,518 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Target were worth $2,624,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Legal & General Group Plc increased its stake in Target by 6.8% in the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after purchasing an additional 279,656 shares during the period. Victory Capital Management Inc. raised its stake in Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Target by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after acquiring an additional 435,229 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Target by 9.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after purchasing an additional 272,521 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Target by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock valued at $475,914,000 after purchasing an additional 56,695 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, 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. Insiders have sold 52,348 shares of company stock valued at $8,290,995 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. lowered their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 target price on shares of Target in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.13.

Target Trading Up 2.8 %

TGT opened at $125.01 on Monday. The firm has a market capitalization of $57.59 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. The firm’s 50 day moving average is $151.27 and its 200-day moving average is $149.54. The company has a quick ratio of 0.27, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the prior year, the company posted $2.10 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Target Co. will post 9.58 EPS for the current fiscal year.

Target Announces Dividend

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 $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.58%. Target’s dividend payout ratio (DPR) is presently 47.51%.

About Target

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.