Associated Banc Corp Cuts Stock Position in Target Co. (NYSE:TGT)

Associated Banc Corp decreased its holdings in shares of Target Co. (NYSE:TGT) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,968 shares of the retailer’s stock after selling 992 shares during the period. Associated Banc Corp’s holdings in Target were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC purchased a new position in shares of Target in the second quarter valued at approximately $25,000. Slocum Gordon & Co LLP purchased a new position in shares of Target in the second quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new position in Target during the second quarter worth about $31,000. Wolff Wiese Magana LLC raised its holdings in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Target in the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Buying and Selling at Target

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

Wall Street Analyst Weigh In

TGT has been the subject of a number of analyst reports. Evercore ISI cut their price target on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. JPMorgan Chase & Co. cut their target price on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Melius Research began coverage on shares of Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. Bank of America cut their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and decreased their target price for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and an average price target of $161.63.

Target Trading Up 4.4 %

NYSE:TGT opened at $130.50 on Tuesday. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The stock has a market cap of $60.12 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a 50-day simple moving average of $150.82 and a 200-day simple moving average of $149.31.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (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 analyst estimates of $25.87 billion. During the same period last year, the company earned $2.10 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts anticipate 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 given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.43%. Target’s dividend payout ratio (DPR) is presently 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.