Target Co. (NYSE:TGT) Position Trimmed by Clear Perspective Advisors LLC

Clear Perspective Advisors LLC trimmed its holdings in shares of Target Co. (NYSE:TGT) by 3.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,547 shares of the retailer’s stock after selling 50 shares during the period. Clear Perspective Advisors LLC’s holdings in Target were worth $374,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TGT. OLD Mission Capital LLC purchased a new stake in shares of Target in the 3rd quarter valued at approximately $200,000. Magnolia Capital Advisors LLC purchased a new stake in Target in the 1st quarter worth approximately $215,000. Principal Financial Group Inc. lifted its position in Target by 0.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,209,328 shares of the retailer’s stock worth $239,532,000 after buying an additional 9,951 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Target during the 1st quarter valued at $174,000. Finally, Moors & Cabot Inc. raised its holdings in shares of Target by 4.6% during the 1st quarter. Moors & Cabot Inc. now owns 11,837 shares of the retailer’s stock valued at $2,351,000 after purchasing an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 76.73% of the company’s stock.

In other news, insider John J. Mulligan sold 80,782 shares of the firm’s stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $247.20, for a total transaction of $19,969,310.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Don H. Liu sold 13,985 shares of the firm’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $253.90, for a total transaction of $3,550,791.50. The disclosure for this sale can be found here. Insiders sold a total of 136,744 shares of company stock worth $34,106,184 over the last 90 days. Company insiders own 0.29% of the company’s stock.

A number of research firms have recently weighed in on TGT. Credit Suisse Group raised their price target on shares of Target from $283.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, August 19th. Raymond James raised their price target on shares of Target from $252.00 to $285.00 and gave the company a “strong-buy” rating in a report on Thursday, August 19th. KeyCorp raised their price target on shares of Target from $235.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, July 27th. Citigroup raised their price target on shares of Target from $258.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, August 19th. Finally, DA Davidson restated a “buy” rating on shares of Target in a report on Thursday, August 19th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $252.30.

NYSE TGT traded up $3.92 during midday trading on Thursday, hitting $240.67. The company had a trading volume of 62,590 shares, compared to its average volume of 3,359,840. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78. The stock has a market cap of $117.46 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 1.36 and a beta of 0.98. The firm has a fifty day simple moving average of $244.78 and a two-hundred day simple moving average of $233.57. Target Co. has a fifty-two week low of $150.80 and a fifty-two week high of $267.06.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, August 17th. The retailer reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.15. The company had revenue of $24.83 billion for the quarter, compared to analyst estimates of $25.03 billion. Target had a net margin of 6.29% and a return on equity of 44.68%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted $3.38 EPS. As a group, equities analysts predict that Target Co. will post 12.86 earnings per share for the current year.

Target declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 18th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the retailer to purchase up to 12.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Wednesday, November 17th will be given a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, November 16th. This represents a $3.60 annualized dividend and a yield of 1.50%. Target’s dividend payout ratio is 38.22%.

Target Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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