Target Co. (NYSE:TGT) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lessened its stake in shares of Target Co. (NYSE:TGT) by 15.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,063 shares of the retailer’s stock after selling 950 shares during the period. Confluence Wealth Services Inc.’s holdings in Target were worth $897,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Target in the 4th quarter valued at about $28,000. Private Wealth Management Group LLC acquired a new stake in Target in the 4th quarter valued at about $29,000. Rakuten Securities Inc. acquired a new stake in Target in the 4th quarter valued at about $29,000. Scarborough Advisors LLC acquired a new stake in Target in the 4th quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Target in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity

In other news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction 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 sale, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is currently owned by corporate insiders.

Target Stock Down 1.7 %

TGT stock traded down $2.76 during midday trading on Tuesday, hitting $160.97. The company’s stock had a trading volume of 3,534,148 shares, compared to its average volume of 3,681,370. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The firm has a market capitalization of $74.32 billion, a P/E ratio of 18.03, a PEG ratio of 1.54 and a beta of 1.14. The firm has a 50-day simple moving average of $166.02 and a 200-day simple moving average of $144.21.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating the consensus estimate of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter last year, the company posted $1.89 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on TGT. JPMorgan Chase & Co. increased their price objective on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Telsey Advisory Group raised their price target on shares of Target from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Oppenheimer raised their price target on shares of Target from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Evercore ISI cut their price target on shares of Target from $183.00 to $180.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Finally, TheStreet upgraded shares of Target from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.85.

Target Profile

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.