Neumann Capital Management LLC Sells 1,500 Shares of Target Co. (NYSE:TGT)

Neumann Capital Management LLC decreased its holdings in shares of Target Co. (NYSE:TGT) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,530 shares of the retailer’s stock after selling 1,500 shares during the quarter. Neumann Capital Management LLC’s holdings in Target were worth $2,109,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of Target by 9,940.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after purchasing an additional 1,981,458 shares during the last quarter. Boston Partners bought a new stake in Target in the first quarter valued at about $335,870,000. AQR Capital Management LLC boosted its stake in Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after acquiring an additional 768,479 shares during the last quarter. Swedbank AB acquired a new position in shares of Target in the 1st quarter valued at $107,367,000. Finally, Clearbridge Investments LLC increased its holdings in shares of Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after acquiring an additional 470,647 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Trading Down 1.0 %

NYSE:TGT opened at $153.46 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $152.51 and a 200-day simple moving average of $150.52. The company has a market capitalization of $70.69 billion, a P/E ratio of 15.85, a PEG ratio of 2.00 and a beta of 1.24. Target Co. has a 12 month low of $124.88 and a 12 month high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $1.80 earnings per share. On average, equities research analysts anticipate that Target Co. will post 9.54 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.92%. Target’s dividend payout ratio is currently 46.28%.

Insider Activity

In related news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 12.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 in the last quarter. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Citigroup raised their target price on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Bank of America boosted their price target on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Telsey Advisory Group restated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Wednesday. Finally, UBS Group raised their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.