State of New Jersey Common Pension Fund D reduced its stake in shares of Target Co. (NYSE:TGT) by 20.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 282,880 shares of the retailer’s stock after selling 72,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Target were worth $24,953,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sun Life Financial INC raised its stake in Target by 739.5% during the 2nd quarter. Sun Life Financial INC now owns 1,444 shares of the retailer’s stock worth $110,000 after acquiring an additional 1,272 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in Target during the 2nd quarter worth $114,000. Duncker Streett & Co. Inc. raised its stake in Target by 1,435.0% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,535 shares of the retailer’s stock worth $117,000 after acquiring an additional 1,435 shares in the last quarter. Squar Milner Financial Services LLC acquired a new stake in Target during the 2nd quarter worth $129,000. Finally, Private Capital Group LLC acquired a new stake in Target during the 2nd quarter worth $138,000. Hedge funds and other institutional investors own 83.59% of the company’s stock.

Several research analysts have issued reports on the stock. Citigroup raised their price objective on shares of Target from $76.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, August 27th. Stifel Nicolaus raised their price objective on shares of Target from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Thursday, August 23rd. BMO Capital Markets assumed coverage on shares of Target in a research report on Monday, September 17th. They set a “market perform” rating and a $88.00 price objective on the stock. Wolfe Research downgraded shares of Target from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 23rd. Finally, Barclays raised their price objective on shares of Target from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $87.68.

Shares of NYSE:TGT opened at $83.36 on Friday. The stock has a market capitalization of $44.43 billion, a PE ratio of 16.65, a PEG ratio of 2.33 and a beta of 0.70. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 1.09. Target Co. has a fifty-two week low of $54.04 and a fifty-two week high of $90.39.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.07. The business had revenue of $17.78 billion for 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 quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, equities analysts predict that Target Co. will post 5.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Tuesday, November 20th. Target’s payout ratio is 54.35%.

In other news, insider Janna A. Potts sold 15,172 shares of Target 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephanie A. Lundquist sold 2,100 shares of Target stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

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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