PNC Financial Services Group Inc. reduced its position in Target Corp. (NYSE:TGT) by 7.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,301,557 shares of the retailer’s stock after selling 98,453 shares during the period. PNC Financial Services Group Inc.’s holdings in Target Corp. were worth $89,389,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TGT. Massachusetts Financial Services Co. MA raised its position in shares of Target Corp. by 13.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,035,746 shares of the retailer’s stock valued at $910,156,000 after buying an additional 1,545,167 shares during the period. Dodge & Cox increased its stake in Target Corp. by 12.9% in the second quarter. Dodge & Cox now owns 11,757,005 shares of the retailer’s stock worth $820,874,000 after buying an additional 1,341,678 shares in the last quarter. BlackRock Fund Advisors increased its stake in Target Corp. by 2.4% in the second quarter. BlackRock Fund Advisors now owns 8,183,360 shares of the retailer’s stock worth $571,362,000 after buying an additional 189,882 shares in the last quarter. BlackRock Group LTD increased its stake in Target Corp. by 3.9% in the second quarter. BlackRock Group LTD now owns 6,339,423 shares of the retailer’s stock worth $442,618,000 after buying an additional 236,371 shares in the last quarter. Finally, LSV Asset Management increased its stake in Target Corp. by 6.6% in the second quarter. LSV Asset Management now owns 4,556,988 shares of the retailer’s stock worth $318,168,000 after buying an additional 283,650 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Target Corp. (NYSE:TGT)

Target Corp. (NYSE:TGT) opened at 77.72 on Tuesday. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The firm’s 50-day moving average price is $70.42 and its 200-day moving average price is $70.57. The company has a market cap of $43.81 billion, a price-to-earnings ratio of 13.83 and a beta of 0.59.

Target Corp. (NYSE:TGT) last released its earnings results on Wednesday, November 16th. The retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.21. The company earned $16.44 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. Target Corp.’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. Equities research analysts forecast that Target Corp. will post $5.20 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio is presently 42.93%.

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A number of research firms recently commented on TGT. Telsey Advisory Group dropped their price objective on Target Corp. from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. Vetr upgraded Target Corp. from a “hold” rating to a “buy” rating and set a $79.09 price objective for the company in a report on Monday, August 1st. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $86.00 price objective on shares of Target Corp. in a report on Wednesday, August 17th. Cowen and Company reiterated an “outperform” rating and issued a $75.00 price objective (down previously from $81.00) on shares of Target Corp. in a report on Wednesday, August 17th. Finally, Nomura set a $75.00 price target on Target Corp. and gave the stock a “hold” rating in a report on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $75.02.

In other news, Director Anne M. Mulcahy sold 3,957 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $75.45, for a total value of $298,555.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

About Target Corp.

Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.

5 Day Chart for NYSE:TGT

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