Krilogy Financial LLC increased its stake in shares of Target Co. (NYSE:TGT – Get Rating) by 17.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,412 shares of the retailer’s stock after purchasing an additional 512 shares during the quarter. Krilogy Financial LLC’s holdings in Target were worth $482,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of TGT. Blume Capital Management Inc. bought a new position in Target in the 1st quarter valued at $25,000. Delos Wealth Advisors LLC bought a new position in Target in the 4th quarter valued at $29,000. Roble Belko & Company Inc bought a new position in Target in the 1st quarter valued at $32,000. Cornerstone Advisory LLC bought a new position in Target in the 4th quarter valued at $36,000. Finally, Mascoma Wealth Management LLC grew its position in Target by 47.2% in the 1st quarter. Mascoma Wealth Management LLC now owns 181 shares of the retailer’s stock valued at $38,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 77.42% of the company’s stock.
Insiders Place Their Bets
In other Target news, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the sale, the insider now directly owns 118,425 shares of the company’s stock, valued at approximately $19,660,918.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John J. Mulligan sold 39,101 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the sale, the insider now directly owns 118,425 shares of the company’s stock, valued at approximately $19,660,918.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the sale, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at $488,725.60. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.
Target Trading Down 3.8 %
Target (NYSE:TGT – Get Rating) last released its earnings results on Wednesday, August 17th. The retailer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.32). Target had a return on equity of 35.15% and a net margin of 3.92%. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $26.07 billion. During the same period in the previous year, the firm earned $3.64 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Target Co. will post 8.11 earnings per share for the current fiscal year.
Target Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.82%. Target’s dividend payout ratio (DPR) is 49.09%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on TGT shares. Cowen upped their price objective on Target to $210.00 in a research report on Monday, August 22nd. UBS Group dropped their price target on Target from $225.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, June 8th. The Goldman Sachs Group increased their price target on Target from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Telsey Advisory Group dropped their price target on Target from $200.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 8th. Finally, StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a research report on Saturday, May 28th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $193.67.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
- Get a free copy of the StockNews.com research report on Target (TGT)
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