King Luther Capital Management Corp Sells 5,000 Shares of Target Corporation $TGT

King Luther Capital Management Corp lowered its holdings in shares of Target Corporation (NYSE:TGT) by 46.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,800 shares of the retailer’s stock after selling 5,000 shares during the period. King Luther Capital Management Corp’s holdings in Target were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TGT. WFA of San Diego LLC acquired a new position in Target in the second quarter valued at approximately $25,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Target in the 3rd quarter valued at $27,000. Tripletail Wealth Management LLC bought a new stake in shares of Target in the 3rd quarter valued at $31,000. Key Financial Inc lifted its position in shares of Target by 77.4% during the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer’s stock valued at $31,000 after acquiring an additional 151 shares during the period. Finally, VSM Wealth Advisory LLC lifted its position in shares of Target by 1,113.8% during the 2nd quarter. VSM Wealth Advisory LLC now owns 352 shares of the retailer’s stock valued at $35,000 after acquiring an additional 323 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

TGT stock opened at $116.62 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The business has a 50-day simple moving average of $106.09 and a two-hundred day simple moving average of $97.44. The company has a market capitalization of $52.81 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 11.93 and a beta of 1.14. Target Corporation has a 52-week low of $83.44 and a 52-week high of $127.89.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The firm had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same period in the prior year, the business posted $1.85 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s dividend payout ratio is presently 55.34%.

Analyst Ratings Changes

A number of equities research analysts have commented on TGT shares. Jefferies Financial Group restated a “buy” rating and issued a $115.00 price target on shares of Target in a report on Thursday, December 18th. Guggenheim raised their target price on Target from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. Sanford C. Bernstein dropped their price target on Target from $87.00 to $80.00 and set an “underperform” rating on the stock in a research note on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $108.00 price target on Target in a report on Thursday, January 8th. Finally, DA Davidson set a $120.00 price objective on Target in a report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Target presently has an average rating of “Hold” and a consensus price target of $104.45.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.