Assetmark Inc. Sells 2,960 Shares of Target Co. (NYSE:TGT)

Assetmark Inc. lessened its position in shares of Target Co. (NYSE:TGT) by 22.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 9,990 shares of the retailer’s stock after selling 2,960 shares during the quarter. Assetmark Inc.’s holdings in Target were worth $1,557,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TGT. Entropy Technologies LP acquired a new stake in Target during the first quarter worth approximately $559,000. Kingsview Wealth Management LLC increased its stake in shares of Target by 5.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 16,098 shares of the retailer’s stock valued at $2,853,000 after acquiring an additional 895 shares in the last quarter. Tocqueville Asset Management L.P. lifted its position in shares of Target by 3.6% during the 1st quarter. Tocqueville Asset Management L.P. now owns 20,828 shares of the retailer’s stock valued at $3,691,000 after acquiring an additional 727 shares during the period. Mizuho Markets Americas LLC boosted its stake in Target by 15.7% during the first quarter. Mizuho Markets Americas LLC now owns 221,929 shares of the retailer’s stock worth $39,328,000 after acquiring an additional 30,128 shares in the last quarter. Finally, Councilmark Asset Management LLC acquired a new stake in Target in the first quarter worth $239,000. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling

In other news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.15% of the company’s stock.

Target Stock Down 1.0 %

Target stock opened at $153.46 on Friday. The firm has a 50 day simple moving average of $152.51 and a 200 day simple moving average of $150.52. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a 1-year low of $124.88 and a 1-year high of $181.86. The firm has a market capitalization of $70.69 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 2.01 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same period in the previous year, the company posted $1.80 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts predict that Target Co. will post 9.54 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.92%. Target’s dividend payout ratio is currently 46.28%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TGT. Wells Fargo & Company upped their price objective on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer cut their price target on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Melius Research assumed coverage on Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective for the company. Roth Mkm increased their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, UBS Group boosted their price target on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.47.

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.