Moors & Cabot Inc. lessened its position in Target Co. (NYSE:TGT) by 6.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,484 shares of the retailer’s stock after selling 693 shares during the quarter. Moors & Cabot Inc.’s holdings in Target were worth $728,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Lee Financial Co grew its stake in Target by 168.7% in the 1st quarter. Lee Financial Co now owns 1,435 shares of the retailer’s stock valued at $100,000 after buying an additional 901 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in Target by 128.6% in the 4th quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock valued at $107,000 after purchasing an additional 900 shares during the period. Signaturefd LLC bought a new stake in Target in the 1st quarter valued at $112,000. Stelac Advisory Services LLC bought a new stake in Target in the 1st quarter valued at $128,000. Finally, SWS Partners bought a new stake in Target in the 4th quarter valued at $132,000. Institutional investors own 85.42% of the company’s stock.
NYSE TGT traded down $1.13 during trading on Thursday, reaching $75.74. 272,979 shares of the stock traded hands, compared to its average volume of 5,114,311. The stock has a market cap of $40.69 billion, a P/E ratio of 16.08, a P/E/G ratio of 2.41 and a beta of 0.72. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.18 and a current ratio of 0.90. Target Co. has a fifty-two week low of $50.04 and a fifty-two week high of $79.59.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th will be issued a $0.64 dividend. This is an increase from Target’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, August 14th. Target’s payout ratio is currently 52.65%.
In related news, insider John J. Mulligan sold 118,373 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total value of $8,211,535.01. Following the transaction, the insider now directly owns 195,906 shares in the company, valued at $13,589,999.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Don H. Liu sold 2,735 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total transaction of $205,125.00. Following the completion of the transaction, the insider now owns 62,210 shares in the company, valued at $4,665,750. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,186 shares of company stock worth $12,287,710. Corporate insiders own 0.19% of the company’s stock.
A number of equities analysts have recently commented on TGT shares. Susquehanna Bancshares reaffirmed a “positive” rating and set a $84.00 price objective on shares of Target in a report on Thursday, June 7th. Credit Suisse Group set a $86.00 price objective on shares of Target and gave the stock a “buy” rating in a report on Monday, June 4th. MKM Partners set a $91.00 price objective on shares of Target and gave the stock a “buy” rating in a report on Tuesday, June 5th. ValuEngine downgraded shares of Target from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Zacks Investment Research downgraded shares of Target from a “buy” rating to a “hold” rating in a report on Friday, May 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.47.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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