Munich Reinsurance Co Stock Corp in Munich lowered its holdings in Target Corporation (NYSE:TGT – Free Report) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,673 shares of the retailer’s stock after selling 3,488 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Target were worth $6,749,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of TGT. WFA of San Diego LLC purchased a new stake in Target in the 2nd quarter worth about $25,000. Jessup Wealth Management Inc purchased a new position in Target during the 4th quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new position in Target during the 4th quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new position in shares of Target in the 2nd quarter valued at about $26,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Target in the 2nd quarter valued at about $26,000. Institutional investors and hedge funds own 79.73% of the company’s stock.
Target Stock Up 0.1%
Shares of Target stock opened at $164.15 on Friday. The firm has a market cap of $74.57 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 3.05 and a beta of 0.99. The stock has a 50-day simple moving average of $146.84 and a 200-day simple moving average of $131.57. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36.
Target Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th were paid a dividend of $1.16 per share. This is a positive change from Target’s previous quarterly dividend of $1.14. The ex-dividend date was Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 2.8%. Target’s dividend payout ratio (DPR) is currently 48.18%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Freedom Capital cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. UBS Group upped their price objective on shares of Target from $166.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Telsey Advisory Group increased their target price on shares of Target from $170.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Jefferies Financial Group increased their target price on shares of Target from $161.00 to $177.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, Citigroup lifted their target price on shares of Target from $148.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. Eleven research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $159.52.
View Our Latest Stock Report on TGT
Insider Buying and Selling at Target
In other news, insider Melissa Kremer sold 15,500 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the transaction, the insider owned 56,981 shares in the company, valued at approximately $9,684,490.76. This trade represents a 21.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Liegel sold 926 shares of Target stock in a transaction on Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the sale, the chief accounting officer directly owned 12,266 shares of the company’s stock, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.
Target Company Profile
Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.
Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.
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