Private Capital Group LLC Cuts Stock Position in Target Co. (NYSE:TGT)


Share on StockTwits

Private Capital Group LLC cut its holdings in Target Co. (NYSE:TGT) by 58.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,769 shares of the retailer’s stock after selling 2,516 shares during the quarter. Private Capital Group LLC’s holdings in Target were worth $350,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of TGT. Clark Financial Advisors purchased a new stake in shares of Target in the fourth quarter valued at approximately $27,000. Tortoise Investment Management LLC purchased a new stake in shares of Target in the fourth quarter valued at approximately $27,000. IronBridge Private Wealth LLC purchased a new stake in shares of Target in the fourth quarter valued at approximately $28,000. West Financial Advisors LLC purchased a new stake in shares of Target in the fourth quarter valued at approximately $30,000. Finally, Ellis Investment Partners LLC increased its position in shares of Target by 61.7% in the fourth quarter. Ellis Investment Partners LLC now owns 173 shares of the retailer’s stock valued at $31,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 79.17% of the company’s stock.

In related news, insider Christina Hennington sold 1,852 shares of the firm’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $183.00, for a total transaction of $338,916.00. Following the transaction, the insider now owns 25,249 shares in the company, valued at approximately $4,620,567. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Katie M. Boylan sold 1,600 shares of the stock in a transaction that occurred on Thursday, April 8th. The stock was sold at an average price of $203.12, for a total value of $324,992.00. Following the sale, the insider now directly owns 15,947 shares of the company’s stock, valued at $3,239,154.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,981 shares of company stock worth $4,932,929. Company insiders own 0.52% of the company’s stock.

TGT opened at $205.10 on Tuesday. The stock’s 50-day moving average price is $188.76 and its 200 day moving average price is $177.89. The company has a current ratio of 1.05, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. Target Co. has a 12-month low of $100.50 and a 12-month high of $207.38. The firm has a market cap of $102.27 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 2.64 and a beta of 0.97.

Target (NYSE:TGT) last issued its quarterly earnings results on Monday, March 1st. The retailer reported $2.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.13. Target had a return on equity of 34.94% and a net margin of 4.31%. The company had revenue of $28 billion for the quarter, compared to the consensus estimate of $27.42 billion. During the same quarter in the prior year, the business earned $1.69 EPS. Target’s revenue was up 21.0% on a year-over-year basis. On average, research analysts forecast that Target Co. will post 9.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be issued a $0.68 dividend. The ex-dividend date is Tuesday, May 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.33%. Target’s payout ratio is currently 42.57%.

Several analysts recently commented on TGT shares. Morgan Stanley boosted their price target on Target from $180.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 20th. Cowen boosted their price target on Target from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 14th. Robert W. Baird dropped their price target on Target from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, March 9th. DA Davidson dropped their price target on Target from $229.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, March 9th. Finally, Guggenheim upgraded Target from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research report on Monday, March 15th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $180.90.

About Target

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, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

Recommended Story: Range Trading

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.