NewSquare Capital LLC Sells 3,460 Shares of Target Co. (NYSE:TGT)

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NewSquare Capital LLC trimmed its holdings in Target Co. (NYSE:TGT) by 13.7% in the 3rd quarter, Holdings Channel reports. The fund owned 21,741 shares of the retailer’s stock after selling 3,460 shares during the quarter. NewSquare Capital LLC’s holdings in Target were worth $2,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TGT. Carnick & Kubik Group LLC lifted its position in Target by 23.0% in the second quarter. Carnick & Kubik Group LLC now owns 60,816 shares of the retailer’s stock worth $5,268,000 after purchasing an additional 11,376 shares during the period. Breiter Capital Management Inc. lifted its position in Target by 4.0% in the second quarter. Breiter Capital Management Inc. now owns 6,348 shares of the retailer’s stock worth $483,000 after purchasing an additional 245 shares during the period. Albion Financial Group UT lifted its position in Target by 1.9% in the second quarter. Albion Financial Group UT now owns 32,220 shares of the retailer’s stock worth $2,791,000 after purchasing an additional 605 shares during the period. FinTrust Capital Advisors LLC lifted its position in Target by 10.0% in the second quarter. FinTrust Capital Advisors LLC now owns 2,193 shares of the retailer’s stock worth $190,000 after purchasing an additional 200 shares during the period. Finally, Goelzer Investment Management Inc. lifted its position in Target by 1.3% in the second quarter. Goelzer Investment Management Inc. now owns 86,320 shares of the retailer’s stock worth $7,476,000 after purchasing an additional 1,104 shares during the period. 81.90% of the stock is owned by institutional investors.

In other news, insider Michael Edward Mcnamara sold 20,386 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $108.25, for a total value of $2,206,784.50. Following the completion of the sale, the insider now directly owns 64,517 shares in the company, valued at $6,983,965.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Don H. Liu sold 4,140 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.92, for a total value of $413,668.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,478 shares of company stock valued at $8,915,363. 0.24% of the stock is currently owned by corporate insiders.

Several research analysts recently commented on TGT shares. Barclays set a $115.00 target price on Target and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Guggenheim reaffirmed a “hold” rating on shares of Target in a research report on Wednesday, August 21st. Goldman Sachs Group initiated coverage on Target in a research report on Thursday, July 11th. They issued a “buy” rating and a $102.00 target price for the company. Citigroup raised Target from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $130.00 in a report on Thursday, August 22nd. Finally, Cowen lifted their price objective on Target from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $105.21.

Shares of NYSE TGT traded up $0.74 during midday trading on Tuesday, reaching $111.89. 2,705,917 shares of the company traded hands, compared to its average volume of 4,351,955. Target Co. has a 12 month low of $60.15 and a 12 month high of $112.94. The firm has a market cap of $57.11 billion, a PE ratio of 20.76, a PEG ratio of 2.57 and a beta of 0.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84. The stock’s 50-day simple moving average is $107.87 and its 200-day simple moving average is $89.41.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Target had a return on equity of 27.43% and a net margin of 4.10%. The company had revenue of $18.42 billion during the quarter, compared to analyst estimates of $18.32 billion. During the same period last year, the company posted $1.47 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Target Co. will post 6.15 EPS for the current year.

Target announced that its Board of Directors has authorized a share buyback plan on Thursday, September 19th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the retailer to purchase up to 9.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.36%. Target’s dividend payout ratio (DPR) is presently 48.98%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).

Institutional Ownership by Quarter for Target (NYSE:TGT)

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