Cullen Investment Group LTD. Has $1.44 Million Stock Position in Target Co. (NYSE:TGT)

Cullen Investment Group LTD. lowered its holdings in shares of Target Co. (NYSE:TGTFree Report) by 6.3% in the 1st quarter, HoldingsChannel reports. The firm owned 8,176 shares of the retailer’s stock after selling 547 shares during the period. Cullen Investment Group LTD.’s holdings in Target were worth $1,441,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Arden Trust Co grew its stake in Target by 4.2% during the first quarter. Arden Trust Co now owns 2,486 shares of the retailer’s stock worth $441,000 after purchasing an additional 100 shares during the period. Canandaigua National Bank & Trust Co. grew its stake in Target by 36.4% during the first quarter. Canandaigua National Bank & Trust Co. now owns 19,870 shares of the retailer’s stock worth $3,521,000 after purchasing an additional 5,300 shares during the period. Newbridge Financial Services Group Inc. grew its stake in Target by 34.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,868 shares of the retailer’s stock worth $551,000 after purchasing an additional 994 shares during the period. HighPoint Advisor Group LLC acquired a new stake in Target during the fourth quarter worth approximately $1,722,000. Finally, Napatree Capital LLC acquired a new stake in Target during the fourth quarter worth approximately $982,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity

In related news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is owned by company insiders.

Target Price Performance

Shares of NYSE TGT opened at $142.54 on Wednesday. The stock has a market cap of $65.94 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. The stock has a fifty day moving average of $156.29 and a 200-day moving average of $152.70.

Target (NYSE:TGTGet Free Report) last announced its quarterly 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). The company had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 earnings per share. Equities research analysts anticipate that Target Co. will post 9.32 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.14%. Target’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent analyst reports. Bank of America raised their target price on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. BNP Paribas started coverage on Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective for the company. BMO Capital Markets dropped their target price on Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Evercore ISI raised their target price on Target from $178.00 to $180.00 in a report on Tuesday, May 21st. Finally, Gordon Haskett raised their target price on Target from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $178.11.

Check Out Our Latest Stock Analysis on TGT

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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