Sterling Capital Management LLC Sells 9,875 Shares of Target Co. (TGT)

Sterling Capital Management LLC lowered its holdings in shares of Target Co. (NYSE:TGT) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,709 shares of the retailer’s stock after selling 9,875 shares during the period. Sterling Capital Management LLC’s holdings in Target were worth $16,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Target by 5.3% during the second quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock valued at $3,255,697,000 after acquiring an additional 2,161,982 shares during the period. LSV Asset Management lifted its holdings in shares of Target by 1.2% during the second quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock valued at $570,620,000 after acquiring an additional 90,489 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Target by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,266,772 shares of the retailer’s stock valued at $324,768,000 after acquiring an additional 106,616 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Target by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,908,902 shares of the retailer’s stock valued at $297,546,000 after acquiring an additional 34,470 shares during the period. Finally, Swedbank bought a new position in shares of Target during the third quarter valued at $198,324,000. Hedge funds and other institutional investors own 83.90% of the company’s stock.

Target stock opened at $84.41 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.17. Target Co. has a 12-month low of $54.04 and a 12-month high of $90.39. The stock has a market capitalization of $44.43 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.73.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.07. Target had a return on equity of 24.29% and a net margin of 4.19%. The business had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $17.33 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Target Co. will post 5.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be issued a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.03%. Target’s dividend payout ratio is 54.35%.

A number of research analysts have issued reports on the company. Bank of America set a $90.00 price objective on Target and gave the company a “buy” rating in a report on Wednesday, August 22nd. Citigroup lifted their price objective on Target from $76.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 27th. Credit Suisse Group set a $86.00 price objective on Target and gave the company a “hold” rating in a report on Saturday, August 25th. Deutsche Bank set a $90.00 price objective on Target and gave the company a “hold” rating in a report on Saturday, August 25th. Finally, BMO Capital Markets assumed coverage on Target in a report on Monday, September 17th. They set a “market perform” rating and a $88.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $87.68.

In related news, insider Janna A. Potts sold 15,172 shares of Target stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $88.00, for a total value of $1,335,136.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie A. Lundquist sold 2,100 shares of Target stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The disclosure for this sale can be found here. Insiders own 0.19% 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, 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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