Tdam USA Inc. Reduces Position in Target Co. (NYSE:TGT)

Tdam USA Inc. trimmed its holdings in shares of Target Co. (NYSE:TGT) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,843 shares of the retailer’s stock after selling 1,912 shares during the quarter. Tdam USA Inc.’s holdings in Target were worth $1,892,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management increased its position in shares of Target by 2.4% during the first quarter. LSV Asset Management now owns 7,391,837 shares of the retailer’s stock worth $593,268,000 after acquiring an additional 171,019 shares during the last quarter. Geode Capital Management LLC increased its holdings in Target by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock valued at $460,727,000 after buying an additional 381,831 shares during the last quarter. American Century Companies Inc. increased its holdings in Target by 18.8% in the first quarter. American Century Companies Inc. now owns 3,178,060 shares of the retailer’s stock valued at $255,071,000 after buying an additional 502,098 shares during the last quarter. Nordea Investment Management AB increased its holdings in Target by 59.7% in the first quarter. Nordea Investment Management AB now owns 2,893,715 shares of the retailer’s stock valued at $232,253,000 after buying an additional 1,081,856 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Target by 1.8% in the first quarter. Parametric Portfolio Associates LLC now owns 2,658,165 shares of the retailer’s stock valued at $213,344,000 after buying an additional 46,261 shares during the last quarter. 83.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:TGT traded down $2.71 during trading on Wednesday, hitting $81.53. 448,953 shares of the company traded hands, compared to its average volume of 5,020,433. The company has a market capitalization of $42.03 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.61. The stock has a fifty day simple moving average of $86.16. Target Co. has a one year low of $60.15 and a one year high of $90.39. The company has a quick ratio of 0.19, a current ratio of 0.88 and a debt-to-equity ratio of 1.21.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.10. The company had revenue of $17.63 billion during the quarter, compared to analyst estimates of $17.49 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 earnings per share. Equities research analysts predict that Target Co. will post 5.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.66 per share. The ex-dividend date is Tuesday, August 20th. This is an increase from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 3.24%. Target’s payout ratio is currently 47.50%.

Several analysts recently weighed in on the company. Credit Suisse Group set a $90.00 price objective on Target and gave the company a “buy” rating in a report on Thursday, May 23rd. Sanford C. Bernstein reissued a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. Goldman Sachs Group assumed coverage on Target in a report on Thursday, July 11th. They issued a “buy” rating and a $102.00 price objective for the company. Citigroup boosted their price objective on Target from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, May 23rd. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $92.00 price objective (up from $88.00) on shares of Target in a report on Thursday, April 18th. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $90.52.

In other news, Director Roxanne S. Austin sold 4,163 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $89.00, for a total transaction of $370,507.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Janna A. Potts sold 8,759 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total value of $691,961.00. Following the transaction, the insider now owns 27,720 shares of the company’s stock, valued at $2,189,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,180 shares of company stock valued at $2,854,650. Insiders own 0.24% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

Further Reading: Portfolio Manager

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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