CMH Wealth Management LLC Raises Stock Position in Target Co. (NYSE:TGT)

CMH Wealth Management LLC grew its holdings in Target Co. (NYSE:TGTGet Rating) by 10.3% during the second quarter, HoldingsChannel.com reports. The fund owned 20,334 shares of the retailer’s stock after purchasing an additional 1,893 shares during the quarter. CMH Wealth Management LLC’s holdings in Target were worth $2,872,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Landmark Wealth Management LLC purchased a new stake in Target during the 1st quarter worth $25,000. Blume Capital Management Inc. acquired a new position in Target during the 1st quarter worth $25,000. Delos Wealth Advisors LLC acquired a new position in Target during the 4th quarter worth $29,000. Roble Belko & Company Inc acquired a new position in Target during the 1st quarter worth $32,000. Finally, Cornerstone Advisory LLC acquired a new position in Target during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.

Target Price Performance

Shares of NYSE TGT traded down $2.81 during midday trading on Friday, reaching $150.15. The company’s stock had a trading volume of 268,961 shares, compared to its average volume of 3,364,889. The company has a current ratio of 0.82, a quick ratio of 0.14 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average price of $163.84 and a 200 day moving average price of $182.03. Target Co. has a one year low of $137.16 and a one year high of $268.98. The company has a market cap of $69.11 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02.

Target (NYSE:TGTGet Rating) last released its earnings results on Wednesday, August 17th. The retailer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). Target had a return on equity of 35.15% and a net margin of 3.92%. The business had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $26.07 billion. During the same quarter in the previous year, the firm earned $3.64 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Target Co. will post 8.11 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.88%. Target’s payout ratio is currently 49.09%.

Insider Buying and Selling

In other news, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now directly owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the sale, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at $488,725.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Mulligan sold 39,101 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the completion of the sale, the insider now owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TGT shares. TheStreet lowered shares of Target from a “b-” rating to a “c+” rating in a report on Friday, June 24th. Stifel Nicolaus lifted their price target on shares of Target from $185.00 to $195.00 and gave the company a “hold” rating in a report on Thursday, August 18th. Robert W. Baird decreased their price target on shares of Target from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, June 8th. Wells Fargo & Company raised shares of Target to an “overweight” rating in a report on Tuesday, August 9th. Finally, Telsey Advisory Group decreased their price target on shares of Target from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, June 8th. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.67.

Target Profile

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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, food, and other merchandise; and beauty and household essentials.

Further Reading

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGTGet Rating).

Institutional Ownership by Quarter for Target (NYSE:TGT)

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