Oppenheimer Asset Management Inc. Sells 10,453 Shares of Target Co. (NYSE:TGT)

Oppenheimer Asset Management Inc. lowered its holdings in Target Co. (NYSE:TGT) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,450 shares of the retailer’s stock after selling 10,453 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Target were worth $14,409,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TGT. Legal & General Group Plc boosted its holdings in shares of Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after buying an additional 279,656 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Target by 11.4% in the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after acquiring an additional 470,647 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Target by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after purchasing an additional 435,229 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Target by 9.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock worth $458,131,000 after purchasing an additional 272,521 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 over the last three months. 0.15% of the stock is owned by company insiders.

Target Price Performance

Shares of NYSE:TGT opened at $154.99 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The stock has a market cap of $71.40 billion, a PE ratio of 16.01, a PEG ratio of 2.01 and a beta of 1.24. The company’s fifty day moving average is $152.46 and its 200 day moving average is $150.49. Target Co. has a 52 week low of $108.08 and a 52 week high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.80 earnings per share. Research analysts anticipate that Target Co. will post 9.54 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is 46.28%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen increased their price objective on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Melius Research initiated coverage on Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price objective on shares of Target in a report on Wednesday. Citigroup upped their price objective on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.47.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.