Manchester Capital Management LLC Lowers Position in Target Co. (NYSE:TGT)

Manchester Capital Management LLC cut its holdings in Target Co. (NYSE:TGT) by 18.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,024 shares of the retailer’s stock after selling 910 shares during the quarter. Manchester Capital Management LLC’s holdings in Target were worth $633,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fort Pitt Capital Group LLC raised its holdings in Target by 1.9% in the second quarter. Fort Pitt Capital Group LLC now owns 241,052 shares of the retailer’s stock worth $28,909,000 after purchasing an additional 4,522 shares in the last quarter. First Trust Advisors LP raised its holdings in Target by 1,078.6% in the second quarter. First Trust Advisors LP now owns 1,383,804 shares of the retailer’s stock worth $165,960,000 after purchasing an additional 1,266,392 shares in the last quarter. Perennial Investment Advisors LLC bought a new position in Target in the third quarter worth about $238,000. CWM LLC raised its holdings in Target by 39.5% in the second quarter. CWM LLC now owns 278,582 shares of the retailer’s stock worth $33,410,000 after purchasing an additional 78,910 shares in the last quarter. Finally, Trust Co. of Oklahoma bought a new position in Target in the third quarter worth about $594,000. Institutional investors and hedge funds own 80.87% of the company’s stock.

In other news, insider Don H. Liu sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $130.00, for a total transaction of $1,040,000.00. Following the transaction, the insider now owns 75,298 shares in the company, valued at approximately $9,788,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephanie A. Lundquist sold 4,471 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $161.00, for a total value of $719,831.00. The disclosure for this sale can be found here. Insiders have sold a total of 157,789 shares of company stock worth $24,124,422 in the last quarter. Insiders own 0.52% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a report on Thursday, August 20th. Tigress Financial restated a “buy” rating on shares of Target in a report on Wednesday, September 23rd. Morgan Stanley upped their price objective on shares of Target from $135.00 to $165.00 and gave the company an “equal weight” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. restated a “focus list” rating on shares of Target in a report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Target in a report on Thursday, October 8th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Target presently has a consensus rating of “Buy” and a consensus price target of $142.57.

Target stock opened at $155.21 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.55 and a debt-to-equity ratio of 1.13. Target Co. has a 12 month low of $90.17 and a 12 month high of $167.42. The stock’s 50 day simple moving average is $156.65 and its two-hundred day simple moving average is $131.58. The firm has a market cap of $77.70 billion, a PE ratio of 22.40, a P/E/G ratio of 3.16 and a beta of 0.85.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $3.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $1.74. Target had a return on equity of 30.25% and a net margin of 4.16%. The business had revenue of $22.98 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts forecast that Target Co. will post 7.18 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 17th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.75%. Target’s dividend payout ratio (DPR) is 42.57%.

About Target

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

Further Reading: Forex

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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