Sapient Capital LLC Sells 243 Shares of Target Co. (NYSE:TGT)

Sapient Capital LLC lessened its position in Target Co. (NYSE:TGT) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,164 shares of the retailer’s stock after selling 243 shares during the quarter. Sapient Capital LLC’s holdings in Target were worth $383,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. increased its holdings in shares of Target by 11.2% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 5,071 shares of the retailer’s stock worth $899,000 after purchasing an additional 511 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Target during the 1st quarter worth about $267,000. Cahaba Wealth Management Inc. bought a new position in shares of Target during the 1st quarter worth about $288,000. Byrne Asset Management LLC bought a new stake in Target in the first quarter valued at about $744,000. Finally, Invera Wealth Advisors LLC bought a new stake in Target in the first quarter valued at about $253,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT traded down $2.76 during mid-day trading on Tuesday, hitting $160.97. 3,534,148 shares of the stock were exchanged, compared to its average volume of 3,681,370. The company has a market cap of $74.32 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The firm has a 50-day moving average of $166.02 and a two-hundred day moving average of $144.21. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The business had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. During the same period last year, the company earned $1.89 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts predict that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.73%. Target’s dividend payout ratio is currently 49.27%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, 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 90 days, insiders have sold 52,600 shares of company stock worth $8,819,598. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on TGT shares. Stifel Nicolaus upped their price objective on shares of Target from $153.00 to $177.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Guggenheim raised their target price on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. raised their target price on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Finally, Bank of America lifted their price objective on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.