Target Co. (NYSE:TGT) Stake Lessened by ClariVest Asset Management LLC

ClariVest Asset Management LLC cut its stake in Target Co. (NYSE:TGT – Get Rating) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,892 shares of the retailer’s stock after selling 3,121 shares during the period. Target makes up approximately 0.9% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position. ClariVest Asset Management LLC’s holdings in Target were worth $28,441,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Industrial Alliance Investment Management Inc. acquired a new stake in Target during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC acquired a new stake in Target during the fourth quarter valued at approximately $28,000. Founders Capital Management acquired a new stake in Target during the fourth quarter valued at approximately $29,000. Sterling Investment Advisors Ltd. lifted its stake in Target by 12,500.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Finally, Emerald Advisers LLC acquired a new stake in Target during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 81.83% of the company’s stock.

Several brokerages recently commented on TGT. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Target from $294.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Raymond James reduced their price target on shares of Target from $275.00 to $205.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 19th. BMO Capital Markets reduced their price target on shares of Target from $250.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Credit Suisse Group reduced their price target on shares of Target from $286.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. Finally, StockNews.com downgraded shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Target currently has an average rating of “Buy” and a consensus target price of $217.72.

In other Target news, insider Don H. Liu sold 8,500 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $240.00, for a total value of $2,040,000.00. Following the completion of the sale, the insider now directly owns 51,759 shares of the company’s stock, valued at approximately $12,422,160. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Cara A. Sylvester sold 2,030 shares of the stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total transaction of $507,500.00. Following the completion of the sale, the insider now directly owns 7,891 shares of the company’s stock, valued at $1,972,750. The disclosure for this sale can be found here. Insiders sold a total of 99,363 shares of company stock worth $21,970,253 over the last quarter. 0.29% of the stock is currently owned by company insiders.

NYSE:TGT traded down $3.95 during midday trading on Tuesday, reaching $149.95. The stock had a trading volume of 10,917,564 shares, compared to its average volume of 4,882,763. Target Co. has a 1-year low of $145.51 and a 1-year high of $268.98. The firm’s fifty day simple moving average is $221.13 and its 200-day simple moving average is $224.76. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.35. The stock has a market capitalization of $69.53 billion, a P/E ratio of 12.27, a PEG ratio of 0.65 and a beta of 0.94.

Target (NYSE:TGT – Get Rating) last posted its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a net margin of 5.48% and a return on equity of 44.75%. The firm had revenue of $24.83 billion during the quarter, compared to analyst estimates of $24.48 billion. During the same quarter in the previous year, the business posted $3.69 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Target Co. will post 14.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Wednesday, May 18th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, May 17th. This represents a $3.60 dividend on an annualized basis and a yield of 2.40%. Target’s payout ratio is presently 29.85%.

Target Profile (Get Rating)

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

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