Neumann Capital Management LLC Raises Stock Holdings in Target Co. (NYSE:TGT)

Neumann Capital Management LLC grew its stake in shares of Target Co. (NYSE:TGT) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,430 shares of the retailer’s stock after acquiring an additional 500 shares during the quarter. Neumann Capital Management LLC’s holdings in Target were worth $1,506,000 as of its most recent SEC filing.

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

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TGT. Gordon Haskett downgraded shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Mizuho dropped their price target on shares of Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Jefferies Financial Group cut their price objective on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Oppenheimer decreased their target price on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Robert W. Baird set a $100.00 price target on Target in a report on Thursday, May 22nd. One research 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 stock. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and a consensus price target of $116.70.

Target Trading Down 2.7%

Shares of TGT opened at $98.08 on Thursday. The stock has a market capitalization of $44.56 billion, a PE ratio of 10.40, a P/E/G ratio of 1.94 and a beta of 1.22. The company’s fifty day moving average is $95.25 and its 200 day moving average is $115.66. 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.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $2.03 earnings per share. Sell-side analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.57%. Target’s dividend payout ratio (DPR) is presently 49.23%.

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.