Parametric Portfolio Associates LLC Sells 72,337 Shares of Target Co. (NYSE:TGT)

Parametric Portfolio Associates LLC decreased its stake in shares of Target Co. (NYSE:TGT) by 2.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,585,828 shares of the retailer’s stock after selling 72,337 shares during the period. Parametric Portfolio Associates LLC owned 0.50% of Target worth $223,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TGT. Krane Funds Advisors LLC acquired a new stake in Target during the 2nd quarter valued at $25,000. Larson Financial Group LLC purchased a new stake in Target during the second quarter valued at about $31,000. Icon Wealth Partners LLC purchased a new stake in Target during the first quarter valued at about $31,000. Advisory Alpha LLC bought a new position in shares of Target during the first quarter valued at about $30,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Target during the second quarter valued at about $37,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

In other news, insider Cathy R. Smith sold 8,412 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $104.40, for a total value of $878,212.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Edward Mcnamara sold 11,891 shares of Target stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $88.79, for a total value of $1,055,801.89. The disclosure for this sale can be found here. In the last three months, insiders sold 97,532 shares of company stock valued at $10,121,671. 0.24% of the stock is owned by insiders.

Target stock traded down $0.30 during trading hours on Wednesday, hitting $108.53. 2,052,510 shares of the stock traded hands, compared to its average volume of 7,995,068. Target Co. has a one year low of $60.15 and a one year high of $110.94. The firm’s 50-day moving average price is $93.78 and its two-hundred day moving average price is $84.06. The company has a current ratio of 0.84, a quick ratio of 0.21 and a debt-to-equity ratio of 1.05. The company has a market cap of $55.15 billion, a PE ratio of 20.14, a PEG ratio of 2.49 and a beta of 0.53.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.21. Target had a return on equity of 27.43% and a net margin of 4.10%. The firm had revenue of $18.42 billion during the quarter, compared to the consensus estimate of $18.32 billion. During the same period last year, the company earned $1.47 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Target Co. will post 6.13 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a $0.66 dividend. The ex-dividend date was Tuesday, August 20th. This is a boost from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.43%. Target’s payout ratio is 48.98%.

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their target price on Target from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Deutsche Bank upgraded Target from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $99.00 in a research report on Monday, August 5th. Wells Fargo & Co raised Target from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Wednesday, August 21st. JPMorgan Chase & Co. set a $115.00 price objective on Target and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Cowen set a $120.00 price objective on Target and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Target currently has an average rating of “Buy” and an average price target of $102.37.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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