Summit Financial LLC Reduces Holdings in Target Co. (NYSE:TGT)

Summit Financial LLC lowered its position in Target Co. (NYSE:TGT) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,697 shares of the retailer’s stock after selling 203 shares during the quarter. Summit Financial LLC’s holdings in Target were worth $242,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Tigress Financial increased their price objective on Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. BMO Capital Markets lifted their price objective on Target from $145.00 to $170.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Evercore ISI dropped their target price on shares of Target from $183.00 to $180.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Royal Bank of Canada upped their price target on Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, HSBC upgraded Target from a “hold” rating to a “buy” rating and increased their price target for the company from $140.00 to $195.00 in a research note on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Target Trading Down 0.1 %

TGT stock opened at $158.04 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company’s 50-day simple moving average is $166.33 and its 200-day simple moving average is $144.39. The firm has a market cap of $73.11 billion, a P/E ratio of 17.70, a PEG ratio of 1.48 and a beta of 1.17.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The company had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Target’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts forecast that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.78%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is presently 49.27%.

Insiders Place Their Bets

In other news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,600 shares of company stock worth $8,819,598. Company insiders own 0.23% of the company’s stock.

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.