Target Co. (NYSE:TGT) Shares Sold by Fmr LLC

FMR LLC lowered its stake in shares of Target Co. (NYSE:TGT) by 72.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,040,938 shares of the retailer’s stock after selling 2,740,921 shares during the quarter. FMR LLC owned 0.20% of Target worth $83,546,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TGT. Horizon Investments LLC purchased a new position in Target in the first quarter worth about $202,000. Quest Capital Management Inc. ADV bought a new stake in Target during the first quarter valued at approximately $540,000. Weiss Asset Management LP bought a new stake in Target during the first quarter valued at approximately $214,000. M Holdings Securities Inc. grew its position in Target by 3.7% during the first quarter. M Holdings Securities Inc. now owns 3,812 shares of the retailer’s stock valued at $306,000 after buying an additional 136 shares during the period. Finally, Nordea Investment Management AB grew its position in Target by 59.7% during the first quarter. Nordea Investment Management AB now owns 2,893,715 shares of the retailer’s stock valued at $232,253,000 after buying an additional 1,081,856 shares during the period. Hedge funds and other institutional investors own 83.37% of the company’s stock.

Shares of NYSE TGT traded down $0.49 during trading on Friday, hitting $88.01. 3,420,371 shares of the company were exchanged, compared to its average volume of 3,910,620. The stock has a market cap of $45.34 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.19. The company’s fifty day moving average is $86.77. Target Co. has a 12-month low of $60.15 and a 12-month high of $90.39.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.10. The company had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. Target’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. On average, analysts anticipate that Target Co. will post 5.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.64 dividend on an annualized basis and a yield of 3.00%. This is a boost from Target’s previous quarterly dividend of $0.64. Target’s payout ratio is currently 47.50%.

A number of research firms have weighed in on TGT. Deutsche Bank assumed coverage on shares of Target in a research report on Monday, July 15th. They issued a “hold” rating and a $85.00 price target for the company. Telsey Advisory Group reissued a “market perform” rating and issued a $64.00 target price (up previously from $58.00) on shares of Las Vegas Sands in a report on Thursday, April 18th. UBS Group downgraded shares of AGL Energy to a “sell” rating in a research note on Thursday, May 23rd. Citigroup downgraded shares of Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. Finally, Barclays upgraded shares of Encompass Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $70.00 in a report on Thursday, May 30th. Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $89.88.

In other Target news, insider Janna A. Potts sold 8,759 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total value of $691,961.00. Following the sale, the insider now owns 27,720 shares of the company’s stock, valued at $2,189,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie A. Lundquist sold 8,367 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $88.01, for a total value of $736,379.67. The disclosure for this sale can be found here. Insiders have sold 33,180 shares of company stock valued at $2,854,650 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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