Braun Bostich & Associates Inc. lessened its holdings in Target Co. (NYSE:TGT) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,187 shares of the retailer’s stock after selling 616 shares during the period. Braun Bostich & Associates Inc.’s holdings in Target were worth $399,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Shell Asset Management Co. increased its position in Target by 2.0% during the first quarter. Shell Asset Management Co. now owns 96,443 shares of the retailer’s stock worth $8,966,000 after buying an additional 1,909 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in shares of Target by 16.0% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 9,190 shares of the retailer’s stock worth $854,000 after acquiring an additional 1,269 shares in the last quarter. Toroso Investments LLC bought a new stake in shares of Target during the 1st quarter worth about $214,000. Royal Fund Management LLC acquired a new position in shares of Target during the 1st quarter valued at about $50,000. Finally, Front Row Advisors LLC raised its stake in shares of Target by 3.5% in the 1st quarter. Front Row Advisors LLC now owns 23,265 shares of the retailer’s stock valued at $2,553,000 after acquiring an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.
NYSE TGT traded down $0.13 on Friday, reaching $118.55. The company’s stock had a trading volume of 2,542,397 shares, compared to its average volume of 6,225,329. Target Co. has a 52 week low of $76.80 and a 52 week high of $130.24. The company has a current ratio of 1.01, a quick ratio of 0.27 and a debt-to-equity ratio of 1.46. The firm has a market cap of $59.79 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 4.07 and a beta of 0.75. The business has a 50-day moving average price of $109.21 and a 200 day moving average price of $114.13.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.64 annualized dividend and a yield of 2.23%. Target’s dividend payout ratio is currently 41.31%.
Several equities analysts have commented on the company. Barclays reiterated a “buy” rating and set a $120.00 price target on shares of Target in a report on Tuesday, March 17th. Deutsche Bank lifted their target price on shares of Target from $121.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday. Cfra upped their price target on shares of Target from $115.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on Target from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Morgan Stanley boosted their price objective on Target from $105.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Target presently has a consensus rating of “Buy” and a consensus target price of $128.21.
In other news, insider Brian C. Cornell sold 110,000 shares of Target stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $120.00, for a total value of $13,200,000.00. Following the completion of the transaction, the insider now owns 208,502 shares in the company, valued at $25,020,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert M. Harrison sold 631 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $102.00, for a total value of $64,362.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,634 shares in the company, valued at $982,668. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,095 shares of company stock valued at $13,314,321. Company insiders own 0.24% of the company’s stock.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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