Quadrant Private Wealth Management LLC bought a new position in shares of Target Co. (NYSE:TGT) during the first quarter, Holdings Channel reports. The institutional investor bought 3,282 shares of the retailer’s stock, valued at approximately $305,000.
Other large investors have also modified their holdings of the company. IMA Wealth Inc. bought a new stake in Target during the first quarter worth approximately $28,000. Hall Laurie J Trustee raised its holdings in shares of Target by 118.2% in the 4th quarter. Hall Laurie J Trustee now owns 240 shares of the retailer’s stock worth $31,000 after purchasing an additional 130 shares in the last quarter. Howard Wealth Management LLC acquired a new stake in Target during the fourth quarter valued at approximately $32,000. Retirement Network bought a new stake in Target during the fourth quarter worth approximately $35,000. Finally, Pacitti Group Inc. bought a new stake in Target during the fourth quarter worth approximately $37,000. 80.49% of the stock is currently owned by institutional investors.
In related news, CAO Robert M. Harrison sold 631 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $102.00, for a total transaction of $64,362.00. Following the completion of the sale, the chief accounting officer now owns 9,634 shares in the company, valued at approximately $982,668. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Cornell sold 110,000 shares of Target stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the transaction, the insider now directly owns 208,502 shares of the company’s stock, valued at $25,020,240. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,095 shares of company stock valued at $13,314,321. Company insiders own 0.24% of the company’s stock.
A number of brokerages have recently commented on TGT. ValuEngine upgraded Target from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Nomura dropped their price target on Target from $131.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Nomura Instinet boosted their price objective on Target from $121.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird raised their target price on shares of Target from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Bank of America boosted their price target on shares of Target from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Target currently has an average rating of “Buy” and a consensus target price of $128.21.
NYSE TGT traded down $0.22 on Friday, reaching $118.46. The company’s stock had a trading volume of 69,288 shares, compared to its average volume of 6,225,329. The firm has a market cap of $59.79 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 4.07 and a beta of 0.75. The company has a current ratio of 1.01, a quick ratio of 0.27 and a debt-to-equity ratio of 1.46. Target Co. has a 52 week low of $76.80 and a 52 week high of $130.24. The business has a 50-day moving average price of $109.21 and a 200 day moving average price of $114.13.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.19. The company had revenue of $19.37 billion for the quarter, compared to analyst estimates of $19.04 billion. Target had a return on equity of 24.17% and a net margin of 3.46%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 EPS. Analysts anticipate that Target Co. will post 4.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.64 annualized dividend and a yield of 2.23%. Target’s dividend payout ratio is currently 41.31%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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