RNC Capital Management LLC Sells 2,582 Shares of Target Co. (NYSE:TGT)

RNC Capital Management LLC reduced its position in shares of Target Co. (NYSE:TGT) by 21.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,288 shares of the retailer’s stock after selling 2,582 shares during the quarter. RNC Capital Management LLC’s holdings in Target were worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Target by 3,577.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares of the retailer’s stock worth $312,000 after buying an additional 1,431 shares during the period. Zions Bancorporation N.A. grew its position in shares of Target by 3.3% during the 1st quarter. Zions Bancorporation N.A. now owns 3,045 shares of the retailer’s stock worth $646,000 after buying an additional 96 shares during the period. Covestor Ltd grew its position in shares of Target by 131.7% during the 1st quarter. Covestor Ltd now owns 702 shares of the retailer’s stock worth $149,000 after buying an additional 399 shares during the period. Merit Financial Group LLC acquired a new position in shares of Target during the 1st quarter worth about $208,000. Finally, Ergoteles LLC grew its position in shares of Target by 191.5% during the 1st quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock worth $2,503,000 after buying an additional 7,748 shares during the period. 79.73% of the stock is owned by institutional investors.

Insider Transactions at Target

In other news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock valued at $8,819,598 over the last three months. Corporate insiders own 0.23% of the company’s stock.

Target Stock Up 1.2 %

Shares of NYSE:TGT opened at $174.67 on Thursday. The firm has a fifty day moving average price of $153.23 and a two-hundred day moving average price of $134.36. The company has a market cap of $80.64 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.62 and a beta of 1.13. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a one year low of $102.93 and a one year high of $175.53.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The firm had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts anticipate that Target Co. will post 9.39 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.52%. Target’s dividend payout ratio (DPR) is presently 49.27%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several research analyst reports. DA Davidson boosted their price objective on Target from $167.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Barclays boosted their price objective on Target from $142.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Jefferies Financial Group upped their price target on Target from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Guggenheim upped their price target on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Roth Mkm upped their price target on Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.73.

About Target

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.