Target Corporation (NYSE:TGT) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC trimmed its holdings in Target Corporation (NYSE:TGT) by 76.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,470 shares of the retailer’s stock after selling 8,165 shares during the quarter. Xcel Wealth Management LLC’s holdings in Target were worth $258,000 as of its most recent SEC filing.

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

Target Trading Up 1.5%

Shares of TGT stock opened at $105.37 on Thursday. The company has a market cap of $47.88 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.97 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a fifty day moving average price of $96.72 and a 200-day moving average price of $112.14. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.25%. The ex-dividend date is Wednesday, August 13th. Target’s payout ratio is currently 49.23%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of analyst reports. DA Davidson dropped their target price on Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. Citigroup decreased their price target on shares of Target from $97.00 to $94.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Mizuho lowered their price target on Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Finally, Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $116.70.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on 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 owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

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.