Adell Harriman & Carpenter Inc. Sells 400 Shares of Target Corporation (NYSE:TGT)

Adell Harriman & Carpenter Inc. trimmed its holdings in Target Corporation (NYSE:TGTFree Report) by 14.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,350 shares of the retailer’s stock after selling 400 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Target were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TGT. Hopwood Financial Services Inc. purchased a new stake in shares of Target in the fourth quarter valued at about $29,000. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC raised its holdings in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Target in the fourth quarter valued at about $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Target in the fourth quarter valued at about $40,000. 79.73% of the stock is owned by institutional investors.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider directly owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Guggenheim lowered their target price on shares of Target from $155.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. BMO Capital Markets reduced their target price on shares of Target from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on shares of Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada dropped their target price on shares of Target from $112.00 to $103.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Target presently has a consensus rating of “Hold” and a consensus price target of $116.70.

Get Our Latest Stock Analysis on Target

Target Stock Down 1.2%

Shares of Target stock opened at $104.17 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The company’s fifty day simple moving average is $97.05 and its two-hundred day simple moving average is $111.62. The company has a market cap of $47.33 billion, a P/E ratio of 11.45, a PEG ratio of 2.98 and a beta of 1.22. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40.

Target (NYSE:TGTGet Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. Research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Wednesday, August 13th. Target’s payout ratio is currently 49.23%.

Target Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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