Target Corporation (NYSE:TGT) Stake Cut by Archford Capital Strategies LLC

Archford Capital Strategies LLC cut its position in shares of Target Corporation (NYSE:TGT) by 26.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,986 shares of the retailer’s stock after selling 1,092 shares during the quarter. Archford Capital Strategies LLC’s holdings in Target were worth $312,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Moran Wealth Management LLC lifted its position in shares of Target by 10.8% in the 1st quarter. Moran Wealth Management LLC now owns 57,872 shares of the retailer’s stock worth $6,040,000 after buying an additional 5,648 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Target by 6.7% in the first quarter. International Assets Investment Management LLC now owns 25,558 shares of the retailer’s stock worth $2,667,000 after acquiring an additional 1,611 shares during the last quarter. Consolidated Portfolio Review Corp lifted its holdings in Target by 172.9% in the first quarter. Consolidated Portfolio Review Corp now owns 6,053 shares of the retailer’s stock worth $632,000 after acquiring an additional 3,835 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Target by 8.1% in the first quarter. Asset Management One Co. Ltd. now owns 191,220 shares of the retailer’s stock worth $19,956,000 after acquiring an additional 14,319 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in Target by 1.0% in the first quarter. GHP Investment Advisors Inc. now owns 74,764 shares of the retailer’s stock worth $7,802,000 after acquiring an additional 768 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

NYSE TGT opened at $96.71 on Thursday. The business’s fifty day moving average is $95.95 and its two-hundred day moving average is $113.32. The stock has a market capitalization of $43.94 billion, a P/E ratio of 10.63, a P/E/G ratio of 2.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40.

Target (NYSE:TGT) last announced its earnings results 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). The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $2.03 earnings per share. On average, research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.63%. Target’s dividend payout ratio is currently 49.23%.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on TGT shares. Wells Fargo & Company cut their price target on Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Telsey Advisory Group set a $110.00 target price on Target and gave the company a “market perform” rating in a research note on Thursday, May 22nd. Roth Mkm reiterated a “neutral” rating and issued a $122.00 target price (down from $131.00) on shares of Target in a research note on Wednesday, March 5th. Evercore ISI cut their target price on Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Finally, DA Davidson cut their price objective on shares of Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Target presently has an average rating of “Hold” and a consensus price target of $116.70.

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.