Target (NYSE:TGT) Stock Price Down 2.1% on Insider Selling

Target Co. (NYSE:TGT) shares traded down 2.1% during trading on Thursday after an insider sold shares in the company. The company traded as low as $152.47 and last traded at $153.50. 1,337,991 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 4,026,251 shares. The stock had previously closed at $156.86.

Specifically, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. BNP Paribas began coverage on Target in a research note on Monday, June 3rd. They set an “underperform” rating and a $116.00 price target for the company. Citigroup lifted their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Telsey Advisory Group increased their price target on Target from $190.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, Daiwa America upgraded Target to a “strong-buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and an average price target of $179.68.

Target Trading Down 2.3 %

The business’s fifty day simple moving average is $146.54 and its two-hundred day simple moving average is $154.85. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The company has a market cap of $70.92 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.80 earnings per share. On average, equities analysts predict that Target Co. will post 9.31 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 2.92%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 50.28%.

Hedge Funds Weigh In On Target

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Washington Trust Advisors Inc. grew its position in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in shares of Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after buying an additional 68 shares during the period. Beacon Capital Management LLC boosted its stake in shares of Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after buying an additional 69 shares in the last quarter. Integral Investment Advisors Inc. grew its holdings in Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares during the period. Finally, Godshalk Welsh Capital Management Inc. raised its position in Target by 0.9% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.