Murphy Middleton Hinkle & Parker Inc. Decreases Position in Target Co. (TGT)

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Murphy Middleton Hinkle & Parker Inc. cut its position in shares of Target Co. (NYSE:TGT) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,033 shares of the retailer’s stock after selling 143 shares during the quarter. Murphy Middleton Hinkle & Parker Inc.’s holdings in Target were worth $1,207,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. One Capital Management LLC lifted its position in shares of Target by 1.9% in the fourth quarter. One Capital Management LLC now owns 36,001 shares of the retailer’s stock valued at $2,379,000 after buying an additional 656 shares during the last quarter. Truewealth LLC lifted its position in shares of Target by 70.7% in the fourth quarter. Truewealth LLC now owns 881 shares of the retailer’s stock valued at $58,000 after buying an additional 365 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Target by 40.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 897,700 shares of the retailer’s stock valued at $59,329,000 after buying an additional 260,700 shares during the last quarter. Swedbank lifted its position in shares of Target by 4.5% in the fourth quarter. Swedbank now owns 2,349,986 shares of the retailer’s stock valued at $152,655,000 after buying an additional 101,671 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Target by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 52,674 shares of the retailer’s stock valued at $3,481,000 after buying an additional 335 shares during the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

In other news, insider Robert M. Harrison sold 1,791 shares of Target stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total value of $143,781.48. Following the transaction, the insider now owns 12,836 shares in the company, valued at approximately $1,030,474.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Edward Mcnamara sold 5,186 shares of Target stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total value of $410,627.48. Following the completion of the transaction, the insider now owns 77,550 shares in the company, valued at approximately $6,140,409. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,977 shares of company stock worth $2,774,409. Corporate insiders own 0.19% of the company’s stock.

Target stock traded up $0.49 during mid-day trading on Wednesday, reaching $82.46. 1,533,271 shares of the company were exchanged, compared to its average volume of 3,851,247. Target Co. has a 12 month low of $60.15 and a 12 month high of $90.39. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.83 and a quick ratio of 0.20. The firm has a market cap of $42.33 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $1.53 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.53. Target had a return on equity of 25.74% and a net margin of 3.90%. The firm had revenue of $22.98 billion for the quarter, compared to analyst estimates of $23.05 billion. During the same quarter last year, the company earned $1.37 EPS. The company’s revenue was up .0% on a year-over-year basis. Sell-side analysts expect that Target Co. will post 5.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.64 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.10%. Target’s dividend payout ratio (DPR) is presently 47.50%.

A number of equities analysts have recently weighed in on the company. Gordon Haskett upgraded Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. Deutsche Bank increased their target price on Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Citigroup reiterated a “neutral” rating and set a $78.00 target price on shares of Target in a research note on Tuesday, February 26th. Tigress Financial reiterated a “buy” rating on shares of Target in a research note on Thursday, January 17th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $88.00 target price (up previously from $86.00) on shares of Target in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $87.25.

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Target Profile

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.

Further Reading: Why is the ROA ratio important?

Institutional Ownership by Quarter for Target (NYSE:TGT)

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