Phillips Wealth Planners LLC Trims Stake in Target Co. (NYSE:TGT)

Phillips Wealth Planners LLC trimmed its stake in Target Co. (NYSE:TGTFree Report) by 9.3% in the 4th quarter, HoldingsChannel reports. The firm owned 3,452 shares of the retailer’s stock after selling 353 shares during the period. Phillips Wealth Planners LLC’s holdings in Target were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Private Wealth Management Group LLC bought a new position in shares of Target during the 4th quarter valued at about $29,000. Rakuten Securities Inc. bought a new position in shares of Target during the 4th quarter valued at about $29,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Target during the 4th quarter valued at about $33,000. Partnership Wealth Management LLC bought a new position in shares of Target during the 4th quarter valued at about $40,000. Finally, Friedenthal Financial bought a new position in shares of Target during the 4th quarter valued at about $45,000. Institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. 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. Company insiders own 0.23% of the company’s stock.

Target Stock Up 1.3 %

TGT stock traded up $1.87 during trading on Tuesday, hitting $147.10. 4,334,907 shares of the company’s stock traded hands, compared to its average volume of 3,855,601. The firm has a market capitalization of $68.05 billion, a P/E ratio of 16.51, a PEG ratio of 1.36 and a beta of 1.17. The business has a fifty day simple moving average of $164.47 and a two-hundred day simple moving average of $150.41. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86.

Target (NYSE:TGTGet Free Report) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same quarter last year, the business earned $2.05 earnings per share. Target’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts anticipate that Target Co. will post 9.37 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.99%. Target’s payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

Several research firms have commented on TGT. The Goldman Sachs Group increased their price objective on shares of Target from $176.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Gordon Haskett increased their price target on shares of Target from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 4th. TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Jefferies Financial Group increased their price target on shares of Target from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, UBS Group lowered their price target on shares of Target from $191.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.41.

Check Out Our Latest Stock Report on Target

Target Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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