Wedge Capital Management L L P NC Sells 75,868 Shares of Target Co. (NYSE:TGT)

Wedge Capital Management L L P NC lessened its holdings in Target Co. (NYSE:TGT) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 252,385 shares of the retailer’s stock after selling 75,868 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Target were worth $32,358,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Profit Investment Management LLC bought a new stake in shares of Target in the fourth quarter worth about $211,000. Boenning & Scattergood Inc. acquired a new position in Target during the 4th quarter worth approximately $635,000. Calamos Advisors LLC grew its position in Target by 52.4% in the fourth quarter. Calamos Advisors LLC now owns 352,984 shares of the retailer’s stock valued at $45,256,000 after purchasing an additional 121,346 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in Target by 12.1% during the fourth quarter. Calamos Wealth Management LLC now owns 36,191 shares of the retailer’s stock worth $4,640,000 after acquiring an additional 3,897 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new stake in shares of Target during the 4th quarter worth approximately $214,000. Institutional investors own 76.89% of the company’s stock.

In other news, insider Stephanie A. Lundquist sold 6,630 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $127.00, for a total transaction of $842,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Don H. Liu sold 2,274 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $122.20, for a total value of $277,882.80. Following the sale, the insider now owns 37,616 shares of the company’s stock, valued at $4,596,675.20. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Shares of NYSE TGT opened at $117.00 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.15 and a current ratio of 0.83. Target Co. has a 52 week low of $67.17 and a 52 week high of $130.24. The stock has a market capitalization of $63.47 billion, a P/E ratio of 21.71, a PEG ratio of 2.60 and a beta of 0.56. The stock’s fifty day moving average is $126.16 and its 200 day moving average is $107.55.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.17. Target had a net margin of 4.18% and a return on equity of 28.22%. The business had revenue of $18.41 billion during the quarter, compared to analysts’ expectations of $18.45 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. Target’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Target Co. will post 6.38 earnings per share for the current year.

Target declared that its board has initiated a share buyback plan on Thursday, September 19th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the retailer to reacquire up to 9.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, February 18th. Target’s dividend payout ratio (DPR) is presently 48.98%.

TGT has been the topic of several research analyst reports. Credit Suisse Group set a $112.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Monday, September 23rd. Evercore ISI initiated coverage on shares of Target in a report on Wednesday, November 20th. They issued a “hold” rating on the stock. Goldman Sachs Group downgraded shares of Target from a “conviction-buy” rating to a “buy” rating and set a $110.00 price objective for the company. in a research report on Friday, October 25th. Nomura initiated coverage on Target in a report on Friday, November 8th. They set a “buy” rating and a $123.00 price objective for the company. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $145.00 target price (up previously from $131.00) on shares of Target in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $117.19.

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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