JNBA Financial Advisors Lowers Holdings in Target Co. (TGT)

JNBA Financial Advisors lessened its position in shares of Target Co. (NYSE:TGT) by 72.2% in the third quarter, HoldingsChannel reports. The firm owned 1,260 shares of the retailer’s stock after selling 3,278 shares during the period. JNBA Financial Advisors’ holdings in Target were worth $111,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TGT. Swedbank bought a new position in Target during the 3rd quarter worth about $198,324,000. BlackRock Inc. grew its holdings in shares of Target by 5.3% in the 2nd quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock valued at $3,255,697,000 after acquiring an additional 2,161,982 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Target in the 2nd quarter valued at about $105,222,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Target by 54.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,028,126 shares of the retailer’s stock valued at $178,899,000 after acquiring an additional 717,588 shares in the last quarter. Finally, Tyvor Capital LLC bought a new position in shares of Target in the 2nd quarter valued at about $46,411,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Target stock opened at $84.41 on Monday. Target Co. has a 52 week low of $54.04 and a 52 week high of $90.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.17. The stock has a market cap of $44.43 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.73.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.07. The firm had revenue of $17.78 billion during the quarter, compared to the consensus estimate of $17.33 billion. Target had a net margin of 4.19% and a return on equity of 24.29%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. As a group, sell-side analysts predict that Target Co. will post 5.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be given a dividend of $0.64 per share. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 annualized dividend and a yield of 3.03%. Target’s dividend payout ratio (DPR) is presently 54.35%.

Several equities analysts have recently weighed in on TGT shares. Loop Capital set a $102.00 price objective on Target and gave the company a “hold” rating in a report on Friday, August 17th. UBS Group raised their price objective on Target from $76.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 17th. Guggenheim restated a “hold” rating on shares of Target in a report on Wednesday, August 22nd. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Tuesday, August 7th. Finally, Deutsche Bank set a $90.00 price objective on Target and gave the company a “hold” rating in a report on Saturday, August 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Target currently has an average rating of “Hold” and a consensus price target of $87.68.

In other Target news, insider Stephanie A. Lundquist sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The shares were 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Janna A. Potts sold 15,172 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $88.00, for a total transaction of $1,335,136.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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