Insider Selling: Target Co. (NYSE:TGT) Insider Sells 45,490 Shares of Stock

Target Co. (NYSE:TGT – Get Rating) insider John J. Mulligan sold 45,490 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 157,333 shares of the company’s stock, valued at $22,023,473.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NYSE TGT opened at $146.81 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.87 and a debt-to-equity ratio of 1.24. Target Co. has a 52 week low of $138.58 and a 52 week high of $268.98. The firm’s fifty day moving average is $189.08 and its 200 day moving average is $209.42. The company has a market cap of $68.08 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.62 and a beta of 0.96.

Target (NYSE:TGT – Get Rating) last issued its quarterly earnings data 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). The company had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $24.48 billion. Target had a net margin of 5.48% and a return on equity of 44.75%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.69 earnings per share. Equities research analysts anticipate that Target Co. will post 8.7 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. This is an increase from Target’s previous quarterly dividend of $0.90. This represents a $4.32 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Tuesday, August 16th. Target’s payout ratio is presently 29.85%.

A number of institutional investors have recently modified their holdings of TGT. Landmark Wealth Management LLC purchased a new position in Target during the 1st quarter valued at $25,000. Blume Capital Management Inc. bought a new stake in shares of Target during the 1st quarter valued at $25,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Target during the 4th quarter valued at $27,000. Founders Capital Management bought a new stake in shares of Target during the 4th quarter valued at $29,000. Finally, Sterling Investment Advisors Ltd. boosted its holdings in shares of Target by 12,500.0% during 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 in the last quarter. 81.83% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on TGT shares. Royal Bank of Canada cut their price objective on shares of Target from $239.00 to $231.00 and set an “outperform” rating for the company in a research report on Wednesday, June 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Target from $227.00 to $198.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. StockNews.com lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Saturday, May 28th. UBS Group dropped their target price 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. Finally, Stifel Nicolaus lowered shares of Target from a “buy” rating to a “hold” rating and dropped their target price for the company from $270.00 to $185.00 in a research report on Wednesday, May 18th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.04.

Target Company Profile (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.

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