CMH Wealth Management LLC Raises Stock Holdings in Target Co. (NYSE:TGT)

CMH Wealth Management LLC boosted its holdings in Target Co. (NYSE:TGT) by 31.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,420 shares of the retailer’s stock after buying an additional 14,719 shares during the quarter. CMH Wealth Management LLC’s holdings in Target were worth $6,410,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TGT. Brighton Jones LLC raised its position in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after buying an additional 3,059 shares during the last quarter. Consolidated Portfolio Review Corp bought a new stake in shares of Target during the 4th quarter valued at about $300,000. Golden State Wealth Management LLC purchased a new stake in shares of Target during the 4th quarter valued at about $90,000. Joel Isaacson & Co. LLC increased its position in shares of Target by 30.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 3,349 shares of the retailer’s stock valued at $453,000 after purchasing an additional 783 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of Target by 29.9% during the 4th quarter. Apollon Wealth Management LLC now owns 12,106 shares of the retailer’s stock valued at $1,637,000 after purchasing an additional 2,787 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 4.1%

Shares of TGT opened at $97.33 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 1 year low of $87.35 and a 1 year high of $167.40. The company has a 50 day simple moving average of $95.24 and a two-hundred day simple moving average of $116.08. The firm has a market cap of $44.22 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. During the same period last year, the business earned $2.03 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. Target’s dividend payout ratio is currently 49.23%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TGT. Telsey Advisory Group set a $110.00 price target on shares of Target and gave the company a “market perform” rating in a research report on Thursday, May 22nd. Royal Bank of Canada reduced their price target on shares of Target from $112.00 to $103.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. Citigroup reduced their price target on shares of Target from $97.00 to $94.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Wall Street Zen lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Finally, Roth Capital set a $122.00 price target on shares of Target in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Target has an average rating of “Hold” and an average target price of $116.70.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Target 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.