Formidable Asset Management LLC Boosts Position in Target Corporation (NYSE:TGT)

Formidable Asset Management LLC raised its stake in Target Corporation (NYSE:TGT) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,696 shares of the retailer’s stock after acquiring an additional 111 shares during the quarter. Formidable Asset Management LLC’s holdings in Target were worth $1,012,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TGT. Bernard Wealth Management Corp. acquired a new stake in Target during the fourth quarter worth about $30,000. Legacy Investment Solutions LLC grew its stake in 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 purchasing an additional 85 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Target during the 4th quarter valued at approximately $40,000. Bellwether Advisors LLC bought a new position in Target during the 4th quarter worth approximately $47,000. Finally, Mascagni Wealth Management Inc. bought a new position in Target during the 4th quarter worth approximately $49,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Telsey Advisory Group set a $110.00 price target on Target and gave the stock a “market perform” rating in a report on Thursday, May 22nd. DA Davidson decreased their target price on Target from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Sanford C. Bernstein cut Target from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $97.00 to $82.00 in a report on Monday, May 12th. The Goldman Sachs Group decreased their target price on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, Wedbush reaffirmed an “outperform” rating on shares of Target in a research report on Thursday. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $116.00.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s 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 sale, the insider directly owned 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Target Trading Down 0.2%

Target stock opened at $103.40 on Friday. The business has a 50 day moving average price of $98.47 and a two-hundred day moving average price of $109.69. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The stock has a market cap of $46.98 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 2.96 and a beta of 1.22. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $2.03 EPS. As a group, equities analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.33%. Target’s dividend payout ratio is currently 49.23%.

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.