Target (NYSE:TGT) Shares Down 0% After Insider Selling

Target Co. (NYSE:TGT) shares fell 0% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $152.99 and last traded at $153.59. 1,004,607 shares traded hands during trading, a decline of 75% from the average session volume of 4,023,439 shares. The stock had previously closed at $153.62.

Specifically, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

TGT has been the topic of several analyst reports. Jefferies Financial Group upped their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Stifel Nicolaus increased their price target on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Finally, UBS Group increased their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.68.

Target Stock Performance

The stock has a 50 day moving average price of $147.47 and a two-hundred day moving average price of $155.07. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The company has a market cap of $70.27 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.99 and a beta of 1.19.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 EPS. Analysts predict that Target Co. will post 9.49 EPS for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio (DPR) is presently 50.28%.

Hedge Funds Weigh In On Target

A number of large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in Target during the 2nd quarter worth about $15,591,000. Creekside Partners bought a new position in Target during the 2nd quarter worth about $343,000. Brown Financial Advisors bought a new position in Target during the 2nd quarter worth about $1,486,000. Farmers National Bank increased its holdings in Target by 4.0% during the 2nd quarter. Farmers National Bank now owns 21,865 shares of the retailer’s stock worth $3,237,000 after purchasing an additional 845 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new position in Target during the 2nd quarter worth about $776,000. Institutional investors own 79.73% of the company’s stock.

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.