Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stock Position in Target Co. (NYSE:TGT)

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in Target Co. (NYSE:TGTGet Rating) by 4.3% in the second quarter, Holdings Channel reports. The firm owned 4,545 shares of the retailer’s stock after selling 205 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Target were worth $642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. boosted its stake in Target by 3.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,591 shares of the retailer’s stock worth $366,000 after purchasing an additional 93 shares in the last quarter. Activest Wealth Management boosted its stake in Target by 55.1% in the 2nd quarter. Activest Wealth Management now owns 366 shares of the retailer’s stock worth $52,000 after purchasing an additional 130 shares in the last quarter. Westshore Wealth LLC boosted its stake in Target by 242.7% in the 2nd quarter. Westshore Wealth LLC now owns 3,592 shares of the retailer’s stock worth $507,000 after purchasing an additional 2,544 shares in the last quarter. Uncommon Cents Investing LLC boosted its stake in Target by 11.4% in the 2nd quarter. Uncommon Cents Investing LLC now owns 20,633 shares of the retailer’s stock worth $2,914,000 after purchasing an additional 2,115 shares in the last quarter. Finally, HB Wealth Management LLC boosted its stake in Target by 73.2% in the 2nd quarter. HB Wealth Management LLC now owns 61,872 shares of the retailer’s stock worth $8,738,000 after purchasing an additional 26,155 shares in the last quarter. 77.42% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

NYSE TGT traded down $2.81 on Friday, hitting $150.15. The company had a trading volume of 268,961 shares, compared to its average volume of 3,364,889. The company has a market capitalization of $69.11 billion, a PE ratio of 17.10, a PEG ratio of 1.99 and a beta of 1.02. The company’s fifty day moving average price is $163.84 and its 200-day moving average price is $182.03. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14. Target Co. has a 12-month low of $137.16 and a 12-month high of $268.98.

Target (NYSE:TGTGet Rating) last issued its quarterly earnings results on Wednesday, August 17th. The retailer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.32). The company had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $26.07 billion. Target had a return on equity of 35.15% and a net margin of 3.92%. Target’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.64 EPS. As a group, analysts predict that Target Co. will post 8.11 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.88%. Target’s payout ratio is 49.09%.

Analysts Set New Price Targets

TGT has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Target to an “overweight” rating in a research note on Tuesday, August 9th. Citigroup decreased their price objective on shares of Target from $188.00 to $184.00 and set a “buy” rating for the company in a research note on Wednesday, June 8th. Cowen lifted their price objective on shares of Target to $210.00 in a research note on Monday, August 22nd. Barclays decreased their price objective on shares of Target from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, June 8th. Finally, DA Davidson lifted their price objective on shares of Target to $203.00 in a research note on Monday, August 22nd. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.67.

Insider Transactions at Target

In other news, insider John J. Mulligan sold 39,101 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John J. Mulligan sold 39,101 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at approximately $488,725.60. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Target Company Profile

(Get Rating)

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, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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