Infusive Asset Management Inc. Sells 48,885 Shares of Target Co. (NYSE:TGT)

Infusive Asset Management Inc. trimmed its position in Target Co. (NYSE:TGT) by 65.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 25,988 shares of the retailer’s stock after selling 48,885 shares during the period. Target comprises 1.7% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 24th largest position. Infusive Asset Management Inc.’s holdings in Target were worth $4,050,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. LRI Investments LLC purchased a new stake in shares of Target during the first quarter valued at $77,000. Cetera Investment Advisers lifted its holdings in Target by 163.6% in the 1st quarter. Cetera Investment Advisers now owns 168,426 shares of the retailer’s stock worth $29,847,000 after purchasing an additional 104,529 shares in the last quarter. Cetera Advisors LLC grew its holdings in Target by 142.4% during the 1st quarter. Cetera Advisors LLC now owns 60,879 shares of the retailer’s stock valued at $10,788,000 after buying an additional 35,759 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Target by 19.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 231,620 shares of the retailer’s stock valued at $40,282,000 after acquiring an additional 37,948 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Target by 7.8% during the first quarter. EverSource Wealth Advisors LLC now owns 1,633 shares of the retailer’s stock valued at $289,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of several analyst reports. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Melius Research began coverage on Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Piper Sandler dropped their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $160.30.

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of the 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 directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by company insiders.

Target Price Performance

Shares of Target stock opened at $130.09 on Friday. The business’s fifty day moving average price is $149.31 and its 200 day moving average price is $148.78. The stock has a market capitalization of $59.93 billion, a P/E ratio of 13.80, a PEG ratio of 2.13 and a beta of 1.24. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 earnings per share. As a group, research analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.44%. Target’s dividend payout ratio (DPR) is 47.51%.

About Target

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.