US Bancorp DE Sells 117,111 Shares of Target Corporation $TGT

US Bancorp DE lessened its position in shares of Target Corporation (NYSE:TGT) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,413,082 shares of the retailer’s stock after selling 117,111 shares during the quarter. US Bancorp DE owned about 0.31% of Target worth $126,754,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TGT. Vanguard Group Inc. increased its position in Target by 14.7% in the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after purchasing an additional 6,607,982 shares during the last quarter. Norges Bank purchased a new position in shares of Target in the 2nd quarter worth $578,009,000. State Street Corp grew its stake in shares of Target by 4.3% in the 2nd quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock worth $3,624,016,000 after buying an additional 1,529,026 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Target by 133.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock worth $219,376,000 after buying an additional 1,273,129 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Target by 96.1% during the 2nd quarter. California Public Employees Retirement System now owns 2,165,396 shares of the retailer’s stock valued at $213,616,000 after buying an additional 1,060,885 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wolfe Research upgraded Target from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 27th. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Robert W. Baird cut their target price on Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Citigroup raised their price target on Target from $89.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $125.00 price objective on shares of Target in a research report on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $105.03.

Target Stock Up 0.8%

NYSE:TGT opened at $116.41 on Thursday. The company has a market cap of $52.71 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 11.81 and a beta of 1.14. Target Corporation has a twelve month low of $83.44 and a twelve month high of $127.89. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $107.11 and a 200-day simple moving average of $97.64.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s payout ratio is 55.34%.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.