Wright Investors Service Inc. Sells 1,416 Shares of Target Co. (NYSE:TGT)

Wright Investors Service Inc. lowered its holdings in Target Co. (NYSE:TGT) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,194 shares of the retailer’s stock after selling 1,416 shares during the period. Wright Investors Service Inc.’s holdings in Target were worth $1,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. bought a new stake in Target during the 4th quarter worth approximately $29,000. Tower View Wealth Management LLC lifted its position in shares of Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after purchasing an additional 106 shares during the period. First Capital Advisors Group LLC. purchased a new stake in shares of Target in the 2nd quarter worth about $31,000. Penserra Capital Management LLC purchased a new stake in shares of Target in the 4th quarter worth about $35,000. Finally, Friedenthal Financial purchased a new stake in shares of Target in the 4th quarter worth about $45,000. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TGT shares. Bank of America lifted their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Telsey Advisory Group lifted their price target on shares of Target from $160.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. BMO Capital Markets lifted their price target on shares of Target from $145.00 to $170.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Jefferies Financial Group boosted their target price on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Roth Mkm boosted their target price on shares of Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Up 1.7 %

TGT stock traded up $2.87 during midday trading on Thursday, hitting $167.34. 1,076,587 shares of the company’s stock were exchanged, compared to its average volume of 3,758,166. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $77.26 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.53 and a beta of 1.14. The firm has a 50 day moving average price of $162.87 and a 200-day moving average price of $140.34.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The business had revenue of $31.47 billion during the quarter, compared to analyst estimates of $31.83 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the transaction, 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. Insiders have sold 52,600 shares of company stock valued at $8,819,598 over the last three months. Company insiders own 0.23% 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.