Payden & Rygel Sells 196,200 Shares of Target Co. (TGT)

Payden & Rygel cut its stake in shares of Target Co. (NYSE:TGT) by 75.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 62,600 shares of the retailer’s stock after selling 196,200 shares during the period. Payden & Rygel’s holdings in Target were worth $3,694,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Carnick & Kubik Group LLC acquired a new position in shares of Target in the 3rd quarter valued at approximately $554,000. CAPROCK Group Inc. acquired a new position in shares of Target in the 3rd quarter valued at approximately $832,000. Boston Private Wealth LLC raised its position in shares of Target by 4.5% in the 2nd quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock valued at $2,795,000 after purchasing an additional 2,285 shares in the last quarter. Conning Inc. raised its position in shares of Target by 2.1% in the 2nd quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock valued at $27,323,000 after purchasing an additional 10,966 shares in the last quarter. Finally, SignalPoint Asset Management LLC acquired a new position in shares of Target in the 3rd quarter valued at approximately $258,000. 87.41% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Several equities research analysts recently issued reports on TGT shares. Moffett Nathanson started coverage on Target in a research report on Monday. They set a “neutral” rating on the stock. ValuEngine raised Target from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Vetr lowered Target from a “strong-buy” rating to a “buy” rating and set a $66.10 price target on the stock. in a research report on Wednesday, November 29th. Barclays set a $45.00 price target on Target and gave the company a “sell” rating in a research report on Wednesday, November 15th. Finally, Morgan Stanley dropped their price target on Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, November 16th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $63.25.

Shares of Target Co. (NYSE TGT) traded down $1.48 on Thursday, reaching $60.72. The company had a trading volume of 5,562,200 shares, compared to its average volume of 7,432,677. The company has a market cap of $33,810.22, a P/E ratio of 12.96, a P/E/G ratio of 7.69 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. Target Co. has a 52-week low of $48.56 and a 52-week high of $78.42.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 EPS. equities analysts predict that Target Co. will post 4.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.08%. Target’s payout ratio is currently 51.88%.

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Target Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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