Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in Target Co. (NYSE:TGT – Free Report) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,345 shares of the retailer’s stock after selling 100 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Target were worth $705,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Plancorp LLC lifted its stake in shares of Target by 2.1% in the first quarter. Plancorp LLC now owns 2,520 shares of the retailer’s stock worth $535,000 after acquiring an additional 53 shares in the last quarter. Field & Main Bank raised its position in shares of Target by 0.6% in the 1st quarter. Field & Main Bank now owns 10,082 shares of the retailer’s stock valued at $1,670,000 after purchasing an additional 62 shares in the last quarter. Altus Wealth Group LLC grew its position in shares of Target by 4.3% during the first quarter. Altus Wealth Group LLC now owns 1,594 shares of the retailer’s stock worth $264,000 after buying an additional 65 shares in the last quarter. Avidian Wealth Solutions LLC raised its holdings in Target by 1.3% in the first quarter. Avidian Wealth Solutions LLC now owns 5,230 shares of the retailer’s stock valued at $866,000 after acquiring an additional 66 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV grew its holdings in Target by 1.5% during the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 4,565 shares of the retailer’s stock worth $756,000 after acquiring an additional 67 shares in the last quarter. 78.33% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Target news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $130.70, for a total transaction of $3,921,000.00. Following the transaction, the insider now owns 399,669 shares in the company, valued at $52,236,738.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.
Target Stock Up 1.2 %
Target stock traded up $1.33 during trading hours on Thursday, hitting $110.32. The company had a trading volume of 3,065,894 shares, compared to its average volume of 4,457,779. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.83 and a quick ratio of 0.18. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.70. The firm’s fifty day moving average is $121.01 and its 200-day moving average is $136.76. The firm has a market capitalization of $50.92 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 0.99 and a beta of 1.03.
Target (NYSE:TGT – Get Free Report) last released its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.39. The firm had revenue of $24.77 billion for the quarter, compared to the consensus estimate of $25.18 billion. Target had a return on equity of 29.43% and a net margin of 3.12%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, research analysts forecast that Target Co. will post 7.58 earnings per share for the current year.
Target Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $4.40 annualized dividend and a yield of 3.99%. Target’s dividend payout ratio (DPR) is currently 60.44%.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Target from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. Bank of America raised shares of Target from a “neutral” rating to a “buy” rating and lifted their price target for the company from $120.00 to $135.00 in a report on Thursday. Raymond James lowered Target from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 26th. Morgan Stanley cut their price target on Target from $155.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, September 7th. Finally, Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and set a $134.00 price objective for the company. in a research note on Tuesday, August 22nd. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and a consensus price target of $157.00.
Get Our Latest Analysis on Target
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.
Further Reading
Receive News & Ratings for Target Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Target and related companies with MarketBeat.com’s FREE daily email newsletter.