Tealwood Asset Management Inc. Decreases Position in Target Co. (NYSE:TGT)

Tealwood Asset Management Inc. trimmed its position in shares of Target Co. (NYSE:TGT) by 26.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,675 shares of the retailer’s stock after selling 1,303 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Target were worth $384,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Butensky & Cohen Financial Security Inc. lifted its position in shares of Target by 4.2% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 27,617 shares of the retailer’s stock valued at $2,882,000 after acquiring an additional 1,103 shares in the last quarter. Radnor Capital Management LLC increased its stake in Target by 6.1% during the first quarter. Radnor Capital Management LLC now owns 9,695 shares of the retailer’s stock worth $1,012,000 after acquiring an additional 561 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. increased its stake in Target by 37.1% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,072 shares of the retailer’s stock worth $1,472,000 after acquiring an additional 4,078 shares during the last quarter. Davis Capital Management acquired a new stake in Target during the first quarter worth about $181,000. Finally, Intellectus Partners LLC increased its stake in Target by 18.3% during the first quarter. Intellectus Partners LLC now owns 6,956 shares of the retailer’s stock worth $726,000 after acquiring an additional 1,076 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Target Stock Performance

Shares of NYSE TGT opened at $97.33 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $44.22 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.94 and a beta of 1.22. The stock’s fifty day simple moving average is $95.24 and its 200 day simple moving average is $116.16. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $2.03 EPS. As a group, sell-side analysts forecast that Target Co. will post 8.69 earnings per share 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 paid a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. Target’s payout ratio is presently 49.23%.

Analysts Set New Price Targets

TGT has been the subject of several research analyst reports. Barclays initiated coverage on Target in a research note on Thursday, May 22nd. They set an “equal weight” rating for the company. Wall Street Zen lowered Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Telsey Advisory Group set a $110.00 target price on Target and gave the company a “market perform” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group lowered their target price on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Target currently has an average rating of “Hold” and an average price target of $116.70.

About Target

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.