InterOcean Capital LLC lessened its holdings in shares of Target Co. (NYSE:TGT) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,819 shares of the retailer’s stock after selling 1,420 shares during the period. InterOcean Capital LLC’s holdings in Target were worth $1,285,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. IMA Wealth Inc. acquired a new position in Target during the 1st quarter valued at about $28,000. Hall Laurie J Trustee grew its stake in shares of Target by 118.2% during the fourth quarter. Hall Laurie J Trustee now owns 240 shares of the retailer’s stock worth $31,000 after acquiring an additional 130 shares during the last quarter. Howard Wealth Management LLC purchased a new stake in shares of Target during the fourth quarter worth about $32,000. Retirement Network acquired a new position in shares of Target during the fourth quarter valued at about $35,000. Finally, Pacitti Group Inc. purchased a new position in shares of Target in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.
In other Target news, insider Brian C. Cornell sold 110,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the completion of the transaction, the insider now owns 208,502 shares of the company’s stock, valued at $25,020,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert M. Harrison sold 464 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $107.67, for a total value of $49,958.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,095 shares of company stock worth $13,314,321. Insiders own 0.24% of the company’s stock.
Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 20th. The retailer reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.19. Target had a return on equity of 24.17% and a net margin of 3.46%. The business had revenue of $19.37 billion during the quarter, compared to analysts’ expectations of $19.04 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. Equities analysts forecast that Target Co. will post 4.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, May 19th. Target’s dividend payout ratio is presently 41.31%.
TGT has been the subject of a number of research analyst reports. UBS Group raised their price target on shares of Target from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday. Nomura reduced their target price on Target from $131.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Goldman Sachs Group upgraded Target from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, March 4th. Nomura Securities reissued a “buy” rating and issued a $131.00 price objective on shares of Target in a report on Monday, March 23rd. Finally, ValuEngine raised Target from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $128.21.
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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