Target Co. (NYSE:TGT) Shares Sold by Summit Global Investments

Summit Global Investments cut its holdings in shares of Target Co. (NYSE:TGT) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,655 shares of the retailer’s stock after selling 810 shares during the period. Summit Global Investments’ holdings in Target were worth $948,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TGT. Robeco Institutional Asset Management B.V. grew its holdings in shares of Target by 18.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 56,298 shares of the retailer’s stock worth $6,225,000 after buying an additional 8,732 shares during the last quarter. Forsta AP Fonden grew its stake in shares of Target by 0.9% in the 3rd quarter. Forsta AP Fonden now owns 91,700 shares of the retailer’s stock valued at $10,139,000 after purchasing an additional 800 shares during the last quarter. Northstar Asset Management LLC increased its holdings in shares of Target by 5.9% in the third quarter. Northstar Asset Management LLC now owns 4,950 shares of the retailer’s stock valued at $547,000 after purchasing an additional 275 shares during the period. Compass Wealth Management LLC raised its stake in shares of Target by 37.6% during the third quarter. Compass Wealth Management LLC now owns 9,873 shares of the retailer’s stock worth $1,092,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Mastrapasqua Asset Management Inc. acquired a new stake in shares of Target during the third quarter worth $896,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on TGT. Tigress Financial boosted their price objective on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Jefferies Financial Group increased their price target on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Stifel Nicolaus lifted their price objective on Target from $153.00 to $177.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Guggenheim increased their target price on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada lifted their price target on Target from $157.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.85.

Target Stock Down 0.1 %

Target stock traded down $0.08 during mid-day trading on Friday, hitting $158.04. The company’s stock had a trading volume of 3,802,181 shares, compared to its average volume of 2,973,106. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The company has a market cap of $73.11 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The firm’s 50 day moving average is $166.33 and its 200 day moving average is $144.39.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The business had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. Target’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 earnings per share. On average, analysts anticipate that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued 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 2.78%. Target’s dividend payout ratio is currently 49.27%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Target news, insider Christina Hennington sold 4,600 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. 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.