Transcend Capital Advisors LLC reduced its stake in shares of Target Co. (NYSE:TGT – Get Rating) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,480 shares of the retailer’s stock after selling 579 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Target were worth $1,800,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Sound Income Strategies LLC raised its stake in Target by 12.2% during the 4th quarter. Sound Income Strategies LLC now owns 423 shares of the retailer’s stock worth $98,000 after acquiring an additional 46 shares in the last quarter. Atwood & Palmer Inc. grew its position in Target by 35.1% during the 4th quarter. Atwood & Palmer Inc. now owns 181 shares of the retailer’s stock worth $42,000 after purchasing an additional 47 shares during the last quarter. Tortoise Investment Management LLC grew its position in Target by 18.5% during the 4th quarter. Tortoise Investment Management LLC now owns 301 shares of the retailer’s stock worth $70,000 after purchasing an additional 47 shares during the last quarter. Cypress Capital LLC grew its position in Target by 0.8% during the 4th quarter. Cypress Capital LLC now owns 5,807 shares of the retailer’s stock worth $1,344,000 after purchasing an additional 47 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. grew its position in Target by 3.1% during the 4th quarter. Newman Dignan & Shearer Inc. now owns 1,612 shares of the retailer’s stock worth $373,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.
Shares of TGT opened at $142.38 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.14 and a debt-to-equity ratio of 1.24. The stock has a market cap of $66.02 billion, a P/E ratio of 11.81, a PEG ratio of 1.69 and a beta of 0.96. The company has a 50-day moving average of $177.24 and a two-hundred day moving average of $205.50. Target Co. has a 12-month low of $137.16 and a 12-month high of $268.98.
Target (NYSE:TGT – Get Rating) last announced its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). The business had revenue of $24.83 billion for the quarter, compared to analyst estimates of $24.48 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.69 EPS. As a group, analysts forecast that Target Co. will post 8.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.03%. This is a boost from Target’s previous quarterly dividend of $0.90. Target’s payout ratio is currently 29.85%.
Several brokerages have issued reports on TGT. Royal Bank of Canada lowered their price objective on shares of Target from $239.00 to $231.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 8th. Gordon Haskett lowered their target price on shares of Target from $300.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Credit Suisse Group lowered their target price on shares of Target from $286.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, May 23rd. Citigroup lowered their target price on shares of Target from $188.00 to $184.00 and set a “buy” rating on the stock in a report on Wednesday, June 8th. Finally, TheStreet downgraded shares of Target from a “b-” rating to a “c+” rating in a report on Friday, June 24th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Target has a consensus rating of “Moderate Buy” and an average target price of $193.04.
In other news, insider John J. Mulligan sold 45,490 shares of the business’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $139.98, for a total value of $6,367,690.20. Following the completion of the transaction, the insider now owns 157,333 shares of the company’s stock, valued at $22,023,473.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Cara A. Sylvester sold 2,030 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total transaction of $507,500.00. Following the completion of the transaction, the insider now directly owns 7,891 shares of the company’s stock, valued at approximately $1,972,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,694 shares of company stock valued at $14,055,746. 0.29% of the stock is currently owned by company insiders.
Target Company 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 decor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
Receive News & Ratings for Target Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Target and related companies with MarketBeat.com’s FREE daily email newsletter.