Centricity Wealth Management LLC Decreases Position in Target Co. (NYSE:TGT)

Centricity Wealth Management LLC cut its stake in Target Co. (NYSE:TGT) by 17.9% in the first quarter, Holdings Channel reports. The firm owned 583 shares of the retailer’s stock after selling 127 shares during the period. Centricity Wealth Management LLC’s holdings in Target were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TGT. Bernard Wealth Management Corp. purchased a new stake in Target in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in Target during the fourth quarter valued at $29,000. Legacy Investment Solutions LLC increased its stake in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Target in the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Target in the 4th quarter worth $40,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

Shares of TGT opened at $97.33 on Monday. 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 fifty-two week low of $87.35 and a fifty-two week high of $167.40. The firm has a 50-day simple moving average of $95.24 and a 200-day simple moving average of $116.08. The company has a market capitalization of $44.22 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given 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 yield of 4.60%. Target’s dividend payout ratio (DPR) is 49.23%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup reduced their target price on Target from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. DA Davidson decreased their target price on shares of Target from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Robert W. Baird set a $100.00 price target on Target in a report on Thursday, May 22nd. Cfra Research downgraded shares of Target from a “moderate buy” rating to a “hold” rating in a report on Thursday, April 17th. Finally, Roth Mkm reiterated a “neutral” rating and set a $122.00 price target (down from $131.00) on shares of Target in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $116.70.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider now owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Target 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.