Glenmede Trust Co. NA Sells 668 Shares of Target Co. (NYSE:TGT)

Glenmede Trust Co. NA decreased its position in shares of Target Co. (NYSE:TGT) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,524 shares of the retailer’s stock after selling 668 shares during the quarter. Glenmede Trust Co. NA’s holdings in Target were worth $29,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. Cynosure Group LLC lifted its holdings in Target by 4.3% in the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after purchasing an additional 67 shares during the period. Hancock Whitney Corp boosted its position in shares of Target by 3.3% during the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after purchasing an additional 68 shares in the last quarter. Beacon Capital Management LLC boosted its position in shares of Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares in the last quarter. Finally, Integral Investment Advisors Inc. grew its stake in Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of a number of research analyst reports. BMO Capital Markets cut their price target on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. Roth Mkm reduced their price target on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Sanford C. Bernstein started coverage on shares of Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. Finally, Jefferies Financial Group raised their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Target has an average rating of “Hold” and a consensus price target of $160.30.

Target Price Performance

Shares of NYSE:TGT opened at $130.11 on Thursday. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The company’s 50-day moving average is $149.84 and its 200 day moving average is $148.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market capitalization of $59.94 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 4.06% and a return on equity of 31.11%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 earnings per share. On average, equities research analysts forecast that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

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

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Target 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.