Insider Selling: Target Co. (NYSE:TGT) Insider Sells 8,367 Shares of Stock

Target Co. (NYSE:TGT) insider Stephanie A. Lundquist sold 8,367 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $88.01, for a total transaction of $736,379.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

TGT traded down $0.31 on Friday, reaching $87.99. The stock had a trading volume of 176,487 shares, compared to its average volume of 6,249,969. Target Co. has a 12-month low of $60.15 and a 12-month high of $90.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88. The stock has a market capitalization of $45.40 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.11 and a beta of 0.57.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.10. Target had a net margin of 3.96% and a return on equity of 26.48%. The company had revenue of $17.63 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the previous year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that Target Co. will post 5.92 earnings per share 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 issued a $0.66 dividend. This is a boost from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 3.00%. Target’s payout ratio is presently 47.50%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGT. Oregon Public Employees Retirement Fund increased its holdings in Target by 5,697.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock valued at $280,000 after buying an additional 18,165,298 shares in the last quarter. Norges Bank purchased a new position in Target in the fourth quarter valued at $358,987,000. Boston Partners purchased a new position in Target in the fourth quarter valued at $310,033,000. Nordea Investment Management AB increased its holdings in Target by 2,417.6% in the fourth quarter. Nordea Investment Management AB now owns 1,811,859 shares of the retailer’s stock valued at $119,742,000 after buying an additional 1,739,892 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Target by 3.2% in the fourth quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock valued at $2,856,544,000 after buying an additional 1,334,425 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

Several equities research analysts have weighed in on the stock. Bank of America set a $105.00 target price on shares of Target and gave the company a “buy” rating in a research note on Thursday, May 23rd. Barclays reiterated a “buy” rating and set a $95.00 price objective on shares of Target in a research note on Thursday, May 30th. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Friday, March 8th. Finally, Sanford C. Bernstein downgraded shares of Target from an “outperform” rating to a “market perform” rating and set a $76.05 price objective for the company. in a research note on Thursday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Target currently has an average rating of “Buy” and a consensus price target of $89.33.

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Target Company 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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