Commerce Bank Sells 1,867 Shares of Target Co. (NYSE:TGT)

Commerce Bank lowered its position in shares of Target Co. (NYSE:TGT) by 1.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,319 shares of the retailer’s stock after selling 1,867 shares during the period. Commerce Bank’s holdings in Target were worth $15,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Bancshares Inc. bought a new stake in Target during the 3rd quarter worth $1,302,000. Premier Fund Managers Ltd bought a new stake in Target during the 3rd quarter worth $6,886,000. Thompson Davis & CO. Inc. grew its position in Target by 21.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 2,610 shares of the retailer’s stock worth $407,000 after acquiring an additional 460 shares during the last quarter. West Family Investments Inc. bought a new stake in shares of Target in the 3rd quarter valued at about $210,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Target in the 3rd quarter valued at about $5,886,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of Target stock opened at $121.73 on Thursday. The company has a market cap of $56.08 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.98 and a beta of 1.24. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The business has a 50 day moving average price of $152.33 and a 200-day moving average price of $150.12. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $2.10 earnings per share. Equities analysts anticipate that Target Co. will post 9.55 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 3.68%. Target’s dividend payout ratio (DPR) is currently 46.28%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of analyst reports. TD Cowen upped their price target on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Citigroup lowered Target from a “buy” rating to a “neutral” rating and reduced their price target for the company from $188.00 to $130.00 in a research report on Wednesday. Stifel Nicolaus upped their price target on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Melius Research initiated coverage on Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target on the stock. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 price target on shares of Target in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus price target of $171.90.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is owned by company insiders.

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.