Traders Sell Shares of Target (TGT) on Strength (TGT)

Investors sold shares of Target Co. (NYSE:TGT) on strength during trading hours on Wednesday. $59.65 million flowed into the stock on the tick-up and $130.34 million flowed out of the stock on the tick-down, for a money net flow of $70.69 million out of the stock. Of all equities tracked, Target had the 7th highest net out-flow for the day. Target traded up $0.10 for the day and closed at $72.96

A number of research analysts have issued reports on TGT shares. Vetr downgraded shares of Target from a “strong-buy” rating to a “buy” rating and set a $64.00 target price on the stock. in a research report on Monday, November 20th. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Sanford C. Bernstein set a $65.00 price target on shares of Target and gave the company a “buy” rating in a research report on Thursday, December 14th. MKM Partners set a $77.00 price target on shares of Target and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Barclays upgraded shares of Target from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $45.00 to $70.00 in a research report on Friday, January 5th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Target presently has a consensus rating of “Hold” and an average target price of $69.56.

The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The company has a market capitalization of $39,660.00, a P/E ratio of 15.33, a PEG ratio of 3.57 and a beta of 0.75.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a yield of 3.40%. Target’s payout ratio is 52.10%.

In other news, insider Robert M. Harrison sold 8,557 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total transaction of $656,664.18. Following the completion of the transaction, the insider now directly owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the transaction, the insider now directly owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,262 shares of company stock valued at $1,185,484. 0.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB grew its stake in shares of Target by 6.5% during the 4th quarter. Xact Kapitalforvaltning AB now owns 96,755 shares of the retailer’s stock worth $6,313,000 after acquiring an additional 5,863 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Target by 52.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 63,620 shares of the retailer’s stock worth $4,150,000 after acquiring an additional 21,816 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Target by 4.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 201,029 shares of the retailer’s stock worth $13,117,000 after acquiring an additional 8,444 shares in the last quarter. Griffin Asset Management Inc. grew its stake in shares of Target by 10.3% during the 4th quarter. Griffin Asset Management Inc. now owns 76,951 shares of the retailer’s stock worth $5,021,000 after acquiring an additional 7,212 shares in the last quarter. Finally, SevenBridge Financial Group LLC grew its stake in shares of Target by 48.1% during the 4th quarter. SevenBridge Financial Group LLC now owns 2,828 shares of the retailer’s stock worth $185,000 after acquiring an additional 919 shares in the last quarter. 88.32% of the stock is owned by institutional investors.

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Target Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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