Optimum Investment Advisors Sells 450 Shares of Target Corporation (NYSE:TGT)

Optimum Investment Advisors cut its holdings in shares of Target Corporation (NYSE:TGT) by 21.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,626 shares of the retailer’s stock after selling 450 shares during the quarter. Optimum Investment Advisors’ holdings in Target were worth $170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Hopwood Financial Services Inc. bought a new position in shares of Target during the 4th quarter valued at approximately $29,000. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC boosted its holdings in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares during the period. OFI Invest Asset Management purchased a new stake in Target during the fourth quarter worth $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Target during the fourth quarter worth $40,000. 79.73% of the stock is owned by institutional investors.

Target Stock Up 0.4%

TGT stock opened at $102.01 on Wednesday. The company has a 50 day moving average of $97.26 and a two-hundred day moving average of $111.22. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40. The company has a market cap of $46.35 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 2.91 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT) last posted its earnings results 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). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the previous year, the business posted $2.03 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Wednesday, August 13th. Target’s payout ratio is 49.23%.

Analysts Set New Price Targets

TGT has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Target from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Cfra Research downgraded Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. The Goldman Sachs Group cut their price target on Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Royal Bank Of Canada lowered their target price on shares of Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Finally, Evercore ISI lowered their target price on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. One research 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $116.70.

Insider Transactions at Target

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 directly owned 246,453 shares of the company’s stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.