Freestone Capital Holdings LLC Acquires 1,505 Shares of Target Co. (TGT)

Freestone Capital Holdings LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 6.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,719 shares of the retailer’s stock after buying an additional 1,505 shares during the period. Freestone Capital Holdings LLC’s holdings in Target were worth $2,181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TGT. Swedbank acquired a new stake in Target during the third quarter worth $198,324,000. BlackRock Inc. boosted its stake in Target by 5.3% during the second quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock worth $3,255,697,000 after buying an additional 2,161,982 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Target by 54.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,028,126 shares of the retailer’s stock worth $178,899,000 after buying an additional 717,588 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Target by 17.2% during the third quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock worth $403,145,000 after buying an additional 671,121 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in Target during the second quarter worth $44,644,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Target stock opened at $67.35 on Monday. The stock has a market capitalization of $35.45 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.86 and a beta of 0.73. Target Co. has a 12-month low of $55.25 and a 12-month high of $90.39. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.83 and a quick ratio of 0.17.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, November 20th. The retailer reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.02). The firm had revenue of $17.59 billion for the quarter, compared to the consensus estimate of $17.81 billion. Target had a return on equity of 25.02% and a net margin of 4.31%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. As a group, sell-side analysts predict that Target Co. will post 5.39 EPS for the current fiscal year.

The company also recently disclosed 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 of this dividend is Tuesday, November 20th. This represents a $2.56 annualized dividend and a yield of 3.80%. Target’s dividend payout ratio is currently 54.35%.

A number of equities research analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of Target from $70.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday. Citigroup decreased their price target on shares of Target from $92.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 21st. Credit Suisse Group decreased their price target on shares of Target from $94.00 to $79.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 21st. Deutsche Bank set a $82.00 price target on shares of Target and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Finally, Barclays reiterated a “hold” rating and set a $85.00 price target on shares of Target in a research note on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $88.00.

In other news, insider Stephanie A. Lundquist sold 2,100 shares of the company’s stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Janna A. Potts sold 15,172 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were 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. Insiders own 0.19% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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