Raab & Moskowitz Asset Management LLC Trims Holdings in Target Co. (NYSE:TGT)

Raab & Moskowitz Asset Management LLC lessened its holdings in shares of Target Co. (NYSE:TGT) by 37.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,198 shares of the retailer’s stock after selling 1,302 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Target were worth $313,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tower View Wealth Management LLC boosted its position in shares of Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Target in the 4th quarter worth approximately $29,000. Friedenthal Financial bought a new stake in shares of Target in the 4th quarter worth approximately $45,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Target in the 4th quarter worth approximately $49,000. Finally, MV Capital Management Inc. boosted its position in shares of Target by 200.8% in the 4th quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock worth $51,000 after purchasing an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE:TGT traded up $0.30 on Friday, reaching $164.74. 2,085,518 shares of the company’s stock traded hands, compared to its average volume of 2,821,609. The firm has a market cap of $76.06 billion, a PE ratio of 18.44, a P/E/G ratio of 1.54 and a beta of 1.14. The stock has a 50-day simple moving average of $165.52 and a 200-day simple moving average of $143.02. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion during the quarter, compared to analyst estimates of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share. Equities research analysts forecast that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.67%. Target’s payout ratio is 49.27%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their price objective on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Telsey Advisory Group upped their price objective on Target from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Royal Bank of Canada upped their price objective on Target from $157.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Gordon Haskett upped their price objective on Target from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company upped their price objective on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.85.

Insider Activity

In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 over the last 90 days. Corporate insiders own 0.23% 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.