AMP Capital Investors Ltd decreased its holdings in Target Co. (NYSE:TGT) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 251,521 shares of the retailer’s stock after selling 42,758 shares during the quarter. AMP Capital Investors Ltd’s holdings in Target were worth $16,413,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Heritage Trust Co grew its position in Target by 129.7% during the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after purchasing an additional 1,000 shares in the last quarter. SevenBridge Financial Group LLC grew its position in Target by 2,200.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after purchasing an additional 1,826 shares in the last quarter. Security Asset Management purchased a new position in Target during the 4th quarter worth approximately $115,000. First Mercantile Trust Co. purchased a new position in Target during the 4th quarter worth approximately $124,000. Finally, Independence Bank of Kentucky purchased a new position in Target during the 4th quarter worth approximately $147,000. Hedge funds and other institutional investors own 87.02% of the company’s stock.
Shares of Target Co. (NYSE:TGT) opened at $70.67 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.95 and a debt-to-equity ratio of 0.97. Target Co. has a 52 week low of $48.56 and a 52 week high of $78.70. The stock has a market cap of $38,410.00, a price-to-earnings ratio of 15.10, a P/E/G ratio of 3.14 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Wednesday, February 21st were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Tuesday, February 20th. Target’s payout ratio is presently 52.99%.
In related news, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the sale, the insider now owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction on Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,262 shares of company stock valued at $1,185,484. 0.20% of the stock is owned by company insiders.
Several equities analysts have weighed in on TGT shares. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective on the stock in a research report on Saturday, January 20th. Robert W. Baird reiterated a “hold” rating and set a $70.00 price objective on shares of Target in a research report on Wednesday, January 3rd. MKM Partners set a $77.00 price objective on shares of Target and gave the stock a “buy” rating in a research report on Thursday, December 14th. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 price objective (up from $65.00) on shares of Target in a research report on Wednesday, January 10th. Finally, Morgan Stanley lowered their price objective on shares of Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $73.97.
COPYRIGHT VIOLATION WARNING: “AMP Capital Investors Ltd Sells 42,758 Shares of Target Co. (TGT)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/03/13/amp-capital-investors-ltd-sells-42758-shares-of-target-co-tgt.html.
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.