Curbstone Financial Management Corp Sells 1,000 Shares of Target Co. (NYSE:TGT)

Curbstone Financial Management Corp lowered its stake in shares of Target Co. (NYSE:TGT) by 8.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,518 shares of the retailer’s stock after selling 1,000 shares during the quarter. Curbstone Financial Management Corp’s holdings in Target were worth $2,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clark Financial Advisors bought a new position in shares of Target during the 4th quarter valued at approximately $27,000. Tortoise Investment Management LLC bought a new position in shares of Target during the 4th quarter valued at approximately $27,000. IronBridge Private Wealth LLC bought a new position in shares of Target during the 4th quarter valued at approximately $28,000. Ellis Investment Partners LLC increased its position in shares of Target by 61.7% during the 4th quarter. Ellis Investment Partners LLC now owns 173 shares of the retailer’s stock valued at $31,000 after purchasing an additional 66 shares during the last quarter. Finally, Insight Financial Services bought a new position in shares of Target during the 4th quarter valued at approximately $34,000. 79.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TGT traded down $1.22 during midday trading on Thursday, reaching $203.23. 27,570 shares of the stock were exchanged, compared to its average volume of 3,999,654. Target Co. has a 52 week low of $100.00 and a 52 week high of $207.38. The company has a current ratio of 1.05, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. The company’s 50 day moving average is $187.34 and its two-hundred day moving average is $176.55. The company has a market capitalization of $101.33 billion, a P/E ratio of 27.08, a PEG ratio of 2.64 and a beta of 0.97.

Target (NYSE:TGT) last issued its quarterly earnings data on Monday, March 1st. The retailer reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.13. The firm had revenue of $28 billion during the quarter, compared to analysts’ expectations of $27.42 billion. Target had a return on equity of 34.94% and a net margin of 4.31%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. On average, sell-side analysts expect that Target Co. will post 9.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Wednesday, May 19th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Tuesday, May 18th. Target’s dividend payout ratio (DPR) is currently 42.57%.

In related news, insider Stephanie A. Lundquist sold 16,894 shares of the company’s stock in a transaction on Thursday, January 14th. The stock was sold at an average price of $198.34, for a total transaction of $3,350,755.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina Hennington sold 1,852 shares of the stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $183.00, for a total value of $338,916.00. Following the completion of the sale, the insider now owns 25,249 shares of the company’s stock, valued at $4,620,567. The disclosure for this sale can be found here. Insiders have sold a total of 21,028 shares of company stock valued at $4,128,843 over the last 90 days. 0.52% of the stock is currently owned by company insiders.

Several equities analysts have commented on the company. Stifel Nicolaus upped their price objective on Target from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, March 30th. Morgan Stanley upped their price objective on Target from $180.00 to $195.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 20th. Guggenheim raised Target from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Monday, March 15th. DA Davidson cut their price objective on Target from $229.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, March 9th. Finally, Robert W. Baird cut their price objective on Target from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 9th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Target currently has a consensus rating of “Buy” and an average price target of $180.90.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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