Wynn Capital LLC Buys 1,890 Shares of Target Co. (NYSE:TGT)

Wynn Capital LLC grew its stake in shares of Target Co. (NYSE:TGT) by 30.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,083 shares of the retailer’s stock after buying an additional 1,890 shares during the period. Wynn Capital LLC’s holdings in Target were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TGT. Norges Bank bought a new stake in shares of Target during the fourth quarter valued at approximately $757,892,000. Raymond James Financial Inc. purchased a new position in shares of Target in the fourth quarter valued at $297,122,000. Ameriprise Financial Inc. grew its holdings in shares of Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after purchasing an additional 1,506,275 shares in the last quarter. FMR LLC grew its holdings in shares of Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after purchasing an additional 1,358,348 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of Target in the fourth quarter valued at $182,882,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 4.1%

Shares of TGT opened at $97.33 on Friday. The firm has a market capitalization of $44.22 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.94 and a beta of 1.22. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average price of $95.24 and a 200-day moving average price of $116.12.

Target (NYSE:TGT) last issued its 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). The company had revenue of $24.20 billion for 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 firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 earnings per share. Equities research analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were issued a $1.12 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.60%. Target’s payout ratio is currently 49.23%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent research reports. Bank of America lowered shares of Target from a “buy” rating to a “neutral” rating and cut their target price for the company from $145.00 to $105.00 in a report on Thursday, May 22nd. Jefferies Financial Group cut their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Roth Mkm reissued a “neutral” rating and issued a $122.00 target price (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Telsey Advisory Group set a $110.00 target price on shares of Target and gave the company a “market perform” rating in a report on Thursday, May 22nd. Finally, Citigroup dropped their price objective on shares of Target from $97.00 to $94.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Target currently has an average rating of “Hold” and a consensus price target of $116.70.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.