American International Group Inc. Trims Holdings in Target Co. (TGT)

American International Group Inc. decreased its position in shares of Target Co. (NYSE:TGT) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,685 shares of the retailer’s stock after selling 4,370 shares during the quarter. American International Group Inc.’s holdings in Target were worth $11,677,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Loeb Partners Corp acquired a new position in Target during the 4th quarter worth $28,000. Lindbrook Capital LLC acquired a new position in Target during the 4th quarter worth $32,000. Eukles Asset Management acquired a new position in Target during the 4th quarter worth $33,000. We Are One Seven LLC acquired a new position in Target during the 4th quarter worth $36,000. Finally, Clean Yield Group acquired a new position in Target during the 4th quarter worth $44,000. 82.08% of the stock is currently owned by hedge funds and other institutional investors.

TGT opened at $76.49 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.83 and a quick ratio of 0.20. Target Co. has a 12 month low of $60.15 and a 12 month high of $90.39. The firm has a market capitalization of $39.75 billion, a P/E ratio of 14.19, a PEG ratio of 2.09 and a beta of 0.66.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.01. Target had a net margin of 3.90% and a return on equity of 25.74%. The business had revenue of $22.98 billion during the quarter, compared to analysts’ expectations of $23.05 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that Target Co. will post 5.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.35%. Target’s dividend payout ratio is currently 47.50%.

In related news, insider Cathy R. Smith sold 30,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Several research firms have issued reports on TGT. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday, March 8th. ValuEngine cut shares of Target from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. BMO Capital Markets set a $70.00 target price on shares of Target and gave the company a “hold” rating in a research report on Tuesday, November 20th. Deutsche Bank upped their target price on shares of Target from $80.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Finally, KeyCorp started coverage on shares of Target in a research report on Friday, November 16th. They set an “overweight” rating and a $110.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $87.25.

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Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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