First American Trust FSB purchased a new position in shares of Target Co. (NYSE:TGT – Get Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,048 shares of the retailer’s stock, valued at approximately $222,000.
Several other hedge funds have also recently added to or reduced their stakes in TGT. Delos Wealth Advisors LLC purchased a new stake in Target in the 4th quarter valued at about $29,000. Founders Capital Management purchased a new stake in Target in the 4th quarter valued at about $29,000. Sterling Investment Advisors Ltd. boosted its position in Target by 12,500.0% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer’s stock valued at $29,000 after buying an additional 125 shares during the period. Emerald Advisers LLC purchased a new stake in Target in the 4th quarter valued at about $30,000. Finally, Level Financial Advisors Inc. purchased a new stake in Target in the 4th quarter valued at about $34,000. 81.83% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on TGT. Robert W. Baird lowered their price objective on shares of Target from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, June 8th. UBS Group lowered their price objective on shares of Target from $225.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. The Goldman Sachs Group reduced their price target on shares of Target from $191.00 to $171.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Gordon Haskett reduced their price target on shares of Target from $300.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 19th. Finally, Jefferies Financial Group reduced their price target on shares of Target from $252.00 to $168.00 and set a “hold” rating for the company in a report on Thursday, May 19th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus price target of $195.81.
Target (NYSE:TGT – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a net margin of 5.48% and a return on equity of 44.75%. The company had revenue of $24.83 billion for the quarter, compared to analyst estimates of $24.48 billion. During the same quarter in the previous year, the company posted $3.69 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that Target Co. will post 8.7 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be issued a $1.08 dividend. This is an increase from Target’s previous quarterly dividend of $0.90. This represents a $4.32 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, August 16th. Target’s dividend payout ratio is 29.85%.
In other news, insider Michael J. Fiddelke sold 5,000 shares of the company’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $210.19, for a total value of $1,050,950.00. Following the sale, the insider now directly owns 31,130 shares of the company’s stock, valued at approximately $6,543,214.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John J. Mulligan sold 45,490 shares of the company’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $139.98, for a total transaction of $6,367,690.20. Following the completion of the sale, the insider now directly owns 157,333 shares in the company, valued at $22,023,473.34. The disclosure for this sale can be found here. Insiders sold a total of 79,694 shares of company stock worth $14,055,746 over the last ninety days. Insiders own 0.29% of the company’s stock.
About Target (Get Rating)
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
- Get a free copy of the StockNews.com research report on Target (TGT)
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