Target Co. (TGT) Holdings Lessened by Commerce Bank

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Commerce Bank lessened its holdings in shares of Target Co. (NYSE:TGT) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,837 shares of the retailer’s stock after selling 621 shares during the period. Commerce Bank’s holdings in Target were worth $7,925,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Dearborn Partners LLC boosted its holdings in shares of Target by 9.7% in the third quarter. Dearborn Partners LLC now owns 6,784 shares of the retailer’s stock valued at $598,000 after purchasing an additional 600 shares during the period. NewSquare Capital LLC boosted its holdings in shares of Target by 2.6% in the third quarter. NewSquare Capital LLC now owns 25,031 shares of the retailer’s stock valued at $2,208,000 after purchasing an additional 632 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Target by 3.5% in the second quarter. Trust Co. of Vermont now owns 19,236 shares of the retailer’s stock valued at $1,464,000 after purchasing an additional 647 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Target by 10.7% in the third quarter. Checchi Capital Advisers LLC now owns 6,895 shares of the retailer’s stock valued at $608,000 after purchasing an additional 668 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its holdings in shares of Target by 4.5% in the second quarter. Sumitomo Life Insurance Co. now owns 15,551 shares of the retailer’s stock valued at $1,184,000 after purchasing an additional 671 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

TGT has been the subject of a number of research reports. Wells Fargo & Co boosted their price target on Target from $72.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, August 23rd. UBS Group boosted their price target on Target from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, August 23rd. Gordon Haskett upgraded Target from a “hold” rating to an “accumulate” rating in a report on Wednesday, July 25th. Credit Suisse Group set a $86.00 price target on Target and gave the company a “hold” rating in a report on Saturday, August 25th. Finally, Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $87.68.

Target stock opened at $85.59 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.82 and a debt-to-equity ratio of 1.09. The firm has a market cap of $44.43 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 2.33 and a beta of 0.73. Target Co. has a twelve month low of $54.04 and a twelve month high of $90.39.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.07. The company had revenue of $17.78 billion during the quarter, compared to analyst estimates of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. Target’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. Analysts anticipate that Target Co. will post 5.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.64 per share. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a yield of 2.99%. Target’s dividend payout ratio is currently 54.35%.

In other news, insider Stephanie A. Lundquist sold 2,100 shares of the company’s stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total transaction of $180,600.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Janna A. Potts sold 15,172 shares of the company’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $88.00, for a total value of $1,335,136.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

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About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

Further Reading: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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