Target Co. (NYSE:TGT) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc decreased its holdings in Target Co. (NYSE:TGT) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,789 shares of the retailer’s stock after selling 958 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Target were worth $2,676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Tower View Wealth Management LLC grew its stake in shares of Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Target during the 4th quarter worth approximately $29,000. Impact Partnership Wealth LLC grew its position in Target by 106.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock worth $45,000 after purchasing an additional 209 shares during the last quarter. Friedenthal Financial acquired a new position in Target during the 4th quarter valued at approximately $45,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Target in the fourth quarter worth $49,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Shares of Target stock traded down $0.71 on Tuesday, reaching $166.40. The company’s stock had a trading volume of 845,323 shares, compared to its average volume of 3,723,155. The stock has a 50-day moving average price of $164.04 and a 200-day moving average price of $141.86. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a market capitalization of $76.83 billion, a P/E ratio of 18.71, a PEG ratio of 1.58 and a beta of 1.14. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. Analysts expect that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.64%. Target’s dividend payout ratio (DPR) is presently 49.27%.

Insider Buying and Selling

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TGT has been the topic of several research reports. UBS Group reissued a “buy” rating and issued a $174.00 target price on shares of Target in a research report on Tuesday, March 5th. Roth Mkm increased their price objective on Target from $140.00 to $153.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Barclays raised their price target on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Royal Bank of Canada upped their price objective on shares of Target from $157.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and a consensus price target of $181.85.

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.