Midland Wealth Advisors LLC Cuts Stake in Target Co. (NYSE:TGT)

Midland Wealth Advisors LLC lowered its stake in shares of Target Co. (NYSE:TGT) by 14.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,144 shares of the retailer’s stock after selling 1,421 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Target were worth $850,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Horrell Capital Management Inc. grew its holdings in Target by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after purchasing an additional 76 shares during the period. Fiducient Advisors LLC raised its stake in shares of Target by 4.6% in the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock worth $240,000 after buying an additional 78 shares during the period. Napatree Capital LLC lifted its position in shares of Target by 2.4% during the 4th quarter. Napatree Capital LLC now owns 3,609 shares of the retailer’s stock valued at $488,000 after buying an additional 85 shares in the last quarter. Legacy Investment Solutions LLC grew its stake in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after acquiring an additional 85 shares during the period. Finally, Bontempo Ohly Capital Mgmt LLC grew its stake in shares of Target by 0.3% during the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer’s stock valued at $3,875,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider now directly owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TGT. KGI Securities set a $132.00 target price on shares of Target in a research note on Wednesday, March 5th. BMO Capital Markets decreased their price objective on shares of Target from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, May 22nd. Oppenheimer dropped their target price on shares of Target from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Telsey Advisory Group set a $110.00 price target on Target and gave the stock a “market perform” rating in a research note on Thursday, May 22nd. Finally, Royal Bank of Canada lowered their price objective on Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $116.70.

Target Stock Up 4.1%

Shares of NYSE TGT opened at $97.33 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40. The firm’s 50-day moving average price is $95.24 and its 200-day moving average price is $116.08. The stock has a market capitalization of $44.22 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 1.94 and a beta of 1.22.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $2.03 earnings per share. On average, equities research analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 49.23%.

Target Profile

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.