Pittenger & Anderson Inc. Trims Stock Position in Target Co. (NYSE:TGT)

Pittenger & Anderson Inc. trimmed its position in Target Co. (NYSE:TGTGet Rating) by 77.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,240 shares of the retailer’s stock after selling 24,601 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Target were worth $1,023,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TGT. Landmark Wealth Management LLC bought a new stake in Target in the first quarter worth $25,000. Blume Capital Management Inc. purchased a new position in Target in the first quarter valued at about $25,000. Delos Wealth Advisors LLC acquired a new stake in Target in the fourth quarter worth about $29,000. Roble Belko & Company Inc acquired a new stake in shares of Target during the first quarter worth about $32,000. Finally, Cornerstone Advisory LLC acquired a new position in Target in the fourth quarter valued at approximately $36,000. 77.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the transaction, the insider now owns 118,425 shares in the company, valued at $19,660,918.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Target news, CAO Matthew A. Liegel sold 1,226 shares of Target stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total value of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at $488,725.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the transaction, the insider now directly owns 118,425 shares in the company, valued at $19,660,918.50. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Target Price Performance

TGT stock opened at $152.96 on Friday. The firm has a 50 day moving average of $163.84 and a 200-day moving average of $182.03. The company has a current ratio of 0.82, a quick ratio of 0.14 and a debt-to-equity ratio of 1.27. Target Co. has a 12 month low of $137.16 and a 12 month high of $268.98. The firm has a market capitalization of $70.40 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02.

Target (NYSE:TGTGet Rating) last released its earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $26.07 billion. Target had a net margin of 3.92% and a return on equity of 35.15%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $3.64 EPS. As a group, sell-side analysts predict that Target Co. will post 8.11 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.82%. Target’s payout ratio is 49.09%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird decreased their price target on Target from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 8th. Barclays dropped their price target on Target from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 8th. TheStreet cut Target from a “b-” rating to a “c+” rating in a research report on Friday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price target on Target from $195.00 to $193.00 and set a “buy” rating for the company in a report on Thursday, August 18th. Finally, KeyCorp assumed coverage on Target in a research note on Wednesday, September 14th. They issued an “overweight” rating and a $200.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and an average price target of $193.67.

Target Profile

(Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Further Reading

Institutional Ownership by Quarter for Target (NYSE:TGT)

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