First Trust Advisors LP lowered its stake in shares of Target Co. (NYSE:TGT – Get Rating) by 47.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,317 shares of the retailer’s stock after selling 45,648 shares during the period. First Trust Advisors LP’s holdings in Target were worth $7,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Wealth Strategies & Associates purchased a new position in Target during the fourth quarter worth $27,000. Bell Investment Advisors Inc grew its stake in Target by 122.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 191 shares of the retailer’s stock worth $28,000 after buying an additional 105 shares during the last quarter. MADDEN SECURITIES Corp purchased a new position in Target during the 4th quarter worth $30,000. Glassy Mountain Advisors Inc. purchased a new position in Target during the 4th quarter worth $32,000. Finally, Red Tortoise LLC purchased a new position in Target during the 4th quarter worth $34,000. Institutional investors own 78.86% of the company’s stock.
Insider Activity
In other Target news, CAO Matthew A. Liegel sold 1,459 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $160.75, for a total transaction of $234,534.25. Following the completion of the sale, the chief accounting officer now owns 3,748 shares of the company’s stock, valued at $602,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Target news, insider Brian C. Cornell sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total value of $5,564,300.00. Following the sale, the insider now owns 191,272 shares of the company’s stock, valued at $30,408,422.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,459 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $160.75, for a total transaction of $234,534.25. Following the completion of the sale, the chief accounting officer now directly owns 3,748 shares of the company’s stock, valued at $602,491. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.
Target Stock Down 1.6 %
Target (NYSE:TGT – Get Rating) last issued its quarterly earnings data on Wednesday, May 17th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $24.95 billion during the quarter, compared to the consensus estimate of $25.28 billion. Target had a return on equity of 24.49% and a net margin of 2.49%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $2.19 earnings per share. On average, equities analysts anticipate that Target Co. will post 8.29 earnings per share for the current year.
Target Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Investors 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 annualized dividend and a yield of 3.07%. Target’s payout ratio is 73.59%.
Analysts Set New Price Targets
A number of analysts have commented on the company. Morgan Stanley reaffirmed 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 upped their price objective 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. Robert W. Baird boosted their target price on shares of Target from $180.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. Barclays started coverage on shares of Target in a research note on Tuesday, February 7th. They set an “equal weight” rating and a $163.00 target price for the company. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Target in a research note on Wednesday, March 1st. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and an average target price of $181.69.
Target Company Profile
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.
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