Summit Financial LLC Sells 203 Shares of Target Co. (NYSE:TGT)

Summit Financial LLC decreased its holdings in Target Co. (NYSE:TGT) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,697 shares of the retailer’s stock after selling 203 shares during the period. Summit Financial LLC’s holdings in Target were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Tower View Wealth Management LLC raised its holdings in Target by 82.8% during the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after acquiring an additional 106 shares during the period. Rakuten Securities Inc. purchased a new position in shares of Target in the fourth quarter valued at $29,000. Friedenthal Financial purchased a new stake in Target during the 4th quarter worth about $45,000. McGlone Suttner Wealth Management Inc. bought a new position in Target in the 4th quarter worth about $49,000. Finally, MV Capital Management Inc. grew its holdings in Target by 200.8% during the 4th quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock valued at $51,000 after buying an additional 241 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Down 0.1 %

Shares of Target stock opened at $158.04 on Friday. The company’s 50 day moving average price is $166.33 and its 200-day moving average price is $144.39. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The stock has a market capitalization of $73.11 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 1.48 and a beta of 1.17.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities research analysts forecast that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.78%. Target’s dividend payout ratio is currently 49.27%.

Insider Activity

In related news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the sale, the insider now 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 accessible through this hyperlink. In related news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,600 shares of company stock valued at $8,819,598. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

TGT has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Target from $142.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Morgan Stanley boosted their price target on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Bank of America increased their price objective on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. Finally, Evercore ISI dropped their price target on Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.85.

About Target

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.