Solstein Capital LLC Sells 703 Shares of Target Co. (NYSE:TGT)

Solstein Capital LLC trimmed its stake in shares of Target Co. (NYSE:TGT) by 57.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 521 shares of the retailer’s stock after selling 703 shares during the quarter. Solstein Capital LLC’s holdings in Target were worth $54,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TGT. Bernard Wealth Management Corp. purchased a new position in shares of Target in the 4th quarter worth about $30,000. Hopwood Financial Services Inc. purchased a new stake in Target in the 4th quarter worth approximately $29,000. Legacy Investment Solutions LLC lifted its holdings in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after buying an additional 85 shares during the period. OFI Invest Asset Management purchased a new stake in Target in the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Target in the 4th quarter worth approximately $40,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider now owns 246,453 shares of the company’s stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

TGT has been the subject of several research reports. Guggenheim decreased their target price on Target from $155.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, May 27th. JPMorgan Chase & Co. increased their target price on Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Morgan Stanley cut their target price on Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Roth Capital set a $122.00 price target on Target in a research note on Wednesday, March 5th. Finally, 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. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $116.70.

Target Price Performance

NYSE:TGT opened at $95.25 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. The company has a market capitalization of $43.28 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.94 and a beta of 1.22. Target Co. has a 12 month low of $87.35 and a 12 month high of $167.40. The business’s 50-day moving average is $95.48 and its 200 day moving average is $115.02.

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

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.70%. Target’s dividend payout ratio is 50.11%.

Target Company 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.