Butensky & Cohen Financial Security Inc. Raises Holdings in Target Co. (NYSE:TGT)

Butensky & Cohen Financial Security Inc. lifted its holdings in shares of Target Co. (NYSE:TGT) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,617 shares of the retailer’s stock after buying an additional 1,103 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Target were worth $2,882,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bernard Wealth Management Corp. purchased a new position in shares of Target during the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Target during the 4th quarter worth approximately $29,000. Legacy Investment Solutions LLC raised its stake in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after buying an additional 85 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Target during the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Target during the 4th quarter worth approximately $40,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider now owns 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $97.33 on Friday. The business’s fifty day moving average price is $95.24 and its two-hundred day moving average price is $116.16. The stock has a market cap of $44.22 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a one year low of $87.35 and a one year high of $167.40.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter last year, the company posted $2.03 EPS. Target’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 49.23%.

Analysts Set New Price Targets

TGT has been the subject of a number of analyst reports. Wall Street Zen downgraded Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Sanford C. Bernstein downgraded Target from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $97.00 to $82.00 in a research note on Monday, May 12th. DA Davidson dropped their price objective on Target from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, May 22nd. Barclays assumed coverage on Target in a research note on Thursday, May 22nd. They issued an “equal weight” rating for the company. Finally, Royal Bank of Canada dropped their price objective on Target from $112.00 to $103.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $116.70.

Target Company 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.