Zhang Financial LLC Sells 763 Shares of Target Co. (NYSE:TGT)

Zhang Financial LLC cut its position in Target Co. (NYSE:TGTGet Rating) by 23.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,543 shares of the retailer’s stock after selling 763 shares during the quarter. Zhang Financial LLC’s holdings in Target were worth $359,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC raised its holdings in shares of Target by 3.4% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,322 shares of the retailer’s stock valued at $281,000 after purchasing an additional 43 shares in the last quarter. J2 Capital Management Inc raised its stake in Target by 3.1% during the 1st quarter. J2 Capital Management Inc now owns 1,524 shares of the retailer’s stock worth $323,000 after acquiring an additional 46 shares in the last quarter. Carolinas Wealth Consulting LLC raised its stake in Target by 5.4% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 944 shares of the retailer’s stock worth $218,000 after acquiring an additional 48 shares in the last quarter. Menard Financial Group LLC raised its stake in Target by 1.9% during the 1st quarter. Menard Financial Group LLC now owns 2,596 shares of the retailer’s stock worth $551,000 after acquiring an additional 48 shares in the last quarter. Finally, Cypress Capital Management LLC raised its stake in Target by 4.5% during the 4th quarter. Cypress Capital Management LLC now owns 1,144 shares of the retailer’s stock worth $265,000 after acquiring an additional 49 shares in the last quarter. 77.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares in the company, 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 the SEC website. In other Target news, CAO Matthew A. Liegel sold 1,226 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $173.80, for a total value of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at $488,725.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the transaction, the insider now directly owns 118,425 shares in the company, valued at $19,660,918.50. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on TGT. MKM Partners cut their price target on shares of Target from $163.00 to $161.00 and set a “neutral” rating on the stock in a research note on Thursday, August 18th. JPMorgan Chase & Co. raised their price objective on shares of Target from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. DA Davidson raised their price objective on shares of Target to $203.00 in a research report on Monday, August 22nd. Bank of America raised their price objective on shares of Target from $165.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Finally, StockNews.com downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Saturday, May 28th. Nine equities 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 stock. Based on data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and an average target price of $193.67.

Target Stock Performance

NYSE:TGT opened at $152.96 on Friday. The firm has a 50 day simple moving average of $163.84 and a 200-day simple moving average of $182.03. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14. The firm has a market cap of $70.40 billion, a PE ratio of 17.38, a P/E/G ratio of 1.99 and a beta of 1.02. Target Co. has a 1-year low of $137.16 and a 1-year high of $268.98.

Target (NYSE:TGTGet Rating) last issued its quarterly 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). The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $26.07 billion. Target had a return on equity of 35.15% and a net margin of 3.92%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company posted $3.64 EPS. On average, equities analysts expect that Target Co. will post 8.11 EPS for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be given 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 presently 49.09%.

Target Profile

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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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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