Roberts Glore & Co. Inc. IL reduced its stake in Target Co. (NYSE:TGT) by 28.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,580 shares of the retailer’s stock after selling 1,395 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Target were worth $332,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in TGT. IMA Wealth Inc. purchased a new position in Target in the first quarter valued at approximately $28,000. Hall Laurie J Trustee increased its stake in Target by 118.2% in the fourth quarter. Hall Laurie J Trustee now owns 240 shares of the retailer’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. Howard Wealth Management LLC purchased a new position in Target in the fourth quarter valued at approximately $32,000. Retirement Network purchased a new position in Target in the fourth quarter valued at approximately $35,000. Finally, Pacitti Group Inc. purchased a new position in Target in the fourth quarter valued at approximately $37,000. Institutional investors own 80.49% of the company’s stock.
In other Target news, insider Brian C. Cornell sold 110,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $120.00, for a total value of $13,200,000.00. Following the completion of the sale, the insider now owns 208,502 shares of the company’s stock, valued at $25,020,240. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robert M. Harrison sold 464 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $107.67, for a total value of $49,958.88. The disclosure for this sale can be found here. In the last three months, insiders sold 111,095 shares of company stock valued at $13,314,321. 0.24% of the stock is owned by corporate insiders.
Several brokerages have commented on TGT. Nomura dropped their price target on shares of Target from $131.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Stifel Nicolaus increased their price objective on Target from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday. Morgan Stanley increased their price objective on Target from $105.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday. Nomura Instinet increased their price objective on Target from $121.00 to $135.00 and gave the company a “buy” rating in a report on Thursday. Finally, Goldman Sachs Group raised Target from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, March 4th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $128.21.
Shares of NYSE TGT traded down $1.19 during mid-day trading on Friday, hitting $117.49. 4,835,356 shares of the company were exchanged, compared to its average volume of 5,780,963. Target Co. has a 1-year low of $76.86 and a 1-year high of $130.24. The company has a quick ratio of 0.27, a current ratio of 1.01 and a debt-to-equity ratio of 1.46. The stock has a 50 day simple moving average of $109.72 and a 200-day simple moving average of $114.20. The firm has a market cap of $59.32 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 4.03 and a beta of 0.75.
Target (NYSE:TGT) last released its earnings results on Wednesday, May 20th. The retailer reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. Target had a return on equity of 24.17% and a net margin of 3.46%. The company had revenue of $19.37 billion during the quarter, compared to the consensus estimate of $19.04 billion. During the same quarter last year, the company earned $1.53 earnings per share. Target’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts anticipate that Target Co. will post 4.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Tuesday, May 19th. Target’s dividend payout ratio (DPR) is currently 41.31%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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