Cullinan Associates Inc. Cuts Stock Position in Target Co. (NYSE:TGT)

Cullinan Associates Inc. lowered its position in Target Co. (NYSE:TGT – Get Rating) by 49.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,849 shares of the retailer’s stock after selling 28,191 shares during the period. Cullinan Associates Inc.’s holdings in Target were worth $4,300,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Plancorp LLC lifted its position in Target by 2.1% in the first quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock valued at $535,000 after buying an additional 53 shares during the last quarter. Physicians Financial Services Inc. lifted its position in Target by 0.4% in the second quarter. Physicians Financial Services Inc. now owns 14,882 shares of the retailer’s stock valued at $2,102,000 after buying an additional 59 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its position in Target by 13.5% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 506 shares of the retailer’s stock valued at $75,000 after buying an additional 60 shares during the last quarter. Titleist Asset Management LTD. lifted its position in Target by 1.7% in the third quarter. Titleist Asset Management LTD. now owns 3,644 shares of the retailer’s stock valued at $541,000 after buying an additional 62 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Target by 3.4% in the second quarter. Axxcess Wealth Management LLC now owns 1,921 shares of the retailer’s stock valued at $271,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 78.86% of the company’s stock.

Target Stock Performance

Shares of Target stock opened at $159.36 on Friday. The firm has a market capitalization of $73.36 billion, a P/E ratio of 26.65, a P/E/G ratio of 1.31 and a beta of 1.05. Target Co. has a 52 week low of $137.16 and a 52 week high of $254.87. The company has a quick ratio of 0.22, a current ratio of 0.92 and a debt-to-equity ratio of 1.43. The firm’s 50 day moving average is $166.27 and its two-hundred day moving average is $160.73.

Target (NYSE:TGT – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The retailer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.40 by $0.49. The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $30.73 billion. Target had a net margin of 2.55% and a return on equity of 25.63%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.19 earnings per share. Research analysts forecast that Target Co. will post 8.35 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.71%. Target’s dividend payout ratio (DPR) is presently 72.24%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com assumed coverage on shares of Target in a research report on Thursday. They issued a “hold” rating on the stock. Barclays began coverage on shares of Target in a research report on Tuesday, February 7th. They issued an “equal weight” rating and a $163.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and set a $155.00 price target on shares of Target in a research report on Monday, February 13th. Raymond James increased their price target on shares of Target from $185.00 to $195.00 and gave the stock a “strong-buy” rating in a research report on Thursday, March 2nd. Finally, Piper Sandler increased their price target on shares of Target from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Thirteen investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus target price of $181.69.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $158.98, for a total transaction of $5,564,300.00. Following the transaction, the insider now directly owns 191,272 shares in the company, valued at $30,408,422.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Target Company Profile

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.