M&R Capital Management Inc. Decreases Stake in Target Co. (NYSE:TGT)

M&R Capital Management Inc. reduced its position in Target Co. (NYSE:TGT) by 15.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,030 shares of the retailer’s stock after selling 900 shares during the period. M&R Capital Management Inc.’s holdings in Target were worth $791,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Prestige Wealth Management Group LLC increased its stake in shares of Target by 888.9% in the first quarter. Prestige Wealth Management Group LLC now owns 267 shares of the retailer’s stock valued at $25,000 after purchasing an additional 240 shares during the period. Rockbridge Investment Management LCC acquired a new position in shares of Target during the second quarter valued at approximately $27,000. Stonebridge Financial Planning Group LLC increased its stake in shares of Target by 250.0% during the second quarter. Stonebridge Financial Planning Group LLC now owns 350 shares of the retailer’s stock valued at $42,000 after acquiring an additional 250 shares during the period. Keebeck Wealth Management LLC acquired a new position in shares of Target during the second quarter valued at approximately $43,000. Finally, First National Bank of South Miami acquired a new position in shares of Target during the second quarter valued at approximately $43,000. 80.87% of the stock is owned by institutional investors.

In related news, insider Michael Edward Mcnamara sold 27,726 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $157.15, for a total transaction of $4,357,140.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Cornell sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $153.11, for a total value of $15,311,000.00. Following the sale, the insider now directly owns 247,379 shares of the company’s stock, valued at $37,876,198.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,847 shares of company stock valued at $23,184,760. 0.52% of the stock is currently owned by company insiders.

NYSE TGT traded up $1.18 on Thursday, hitting $158.60. 3,865,981 shares of the company were exchanged, compared to its average volume of 5,282,937. The company has a current ratio of 1.11, a quick ratio of 0.55 and a debt-to-equity ratio of 1.13. Target Co. has a 1-year low of $90.17 and a 1-year high of $160.89. The company has a market cap of $79.40 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.86 and a beta of 0.87. The firm has a 50 day moving average of $147.69 and a two-hundred day moving average of $122.57.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 19th. The retailer reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $1.74. Target had a net margin of 4.16% and a return on equity of 30.25%. The company had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the company posted $1.82 EPS. The company’s revenue was up 24.7% compared to the same quarter last year. Research analysts anticipate that Target Co. will post 7.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.72%. Target’s dividend payout ratio (DPR) is presently 42.57%.

A number of research analysts recently commented on TGT shares. Tigress Financial reiterated a “buy” rating on shares of Target in a research note on Wednesday, September 23rd. Telsey Advisory Group lifted their price target on shares of Target from $152.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Thursday, August 20th. UBS Group lifted their target price on Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, MKM Partners started coverage on Target in a research report on Wednesday, July 29th. They set a “sell” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Target presently has an average rating of “Buy” and a consensus price target of $139.52.

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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