Target Co. (NYSE:TGT) Position Lessened by IMA Wealth Inc.

IMA Wealth Inc. decreased its stake in Target Co. (NYSE:TGT) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,480 shares of the retailer’s stock after selling 1,069 shares during the period. IMA Wealth Inc.’s holdings in Target were worth $2,205,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TGT. Tower View Wealth Management LLC raised its stake in Target by 82.8% during the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Rakuten Securities Inc. bought a new stake in Target during the 4th quarter valued at $29,000. Friedenthal Financial bought a new stake in Target during the 4th quarter valued at $45,000. McGlone Suttner Wealth Management Inc. bought a new stake in Target during the 4th quarter valued at $49,000. Finally, MV Capital Management Inc. raised its stake in Target by 200.8% during the 4th quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock valued at $51,000 after acquiring an additional 241 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’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 completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. Insiders own 0.23% of the company’s stock.

Target Stock Up 0.2 %

Shares of TGT stock traded up $0.30 on Friday, reaching $164.74. 2,085,518 shares of the company’s stock traded hands, compared to its average volume of 2,821,609. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The company has a market capitalization of $76.06 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The business’s 50 day moving average price is $165.52 and its two-hundred day moving average price is $143.02.

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. The firm had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 earnings per share. On average, equities analysts forecast that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.67%. Target’s payout ratio is 49.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI lowered their price target on Target from $183.00 to $180.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Gordon Haskett lifted their price target on Target from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Oppenheimer lifted their price target on Target from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Tigress Financial lifted their price target on Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Stifel Nicolaus lifted their price target on Target from $153.00 to $177.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Target presently has an average rating of “Moderate Buy” and a consensus price target of $181.85.

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.