Simplicity Solutions LLC Sells 1,294 Shares of Target Co. (NYSE:TGT)

Simplicity Solutions LLC lessened its holdings in Target Co. (NYSE:TGT) by 13.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,193 shares of the retailer’s stock after selling 1,294 shares during the period. Simplicity Solutions LLC’s holdings in Target were worth $1,167,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Graypoint LLC raised its position in Target by 15.6% in the fourth quarter. Graypoint LLC now owns 3,707 shares of the retailer’s stock worth $528,000 after acquiring an additional 499 shares during the period. Baystate Wealth Management LLC raised its holdings in Target by 10.5% in the 4th quarter. Baystate Wealth Management LLC now owns 1,023 shares of the retailer’s stock worth $146,000 after purchasing an additional 97 shares during the period. ORG Partners LLC lifted its position in Target by 647.1% during the fourth quarter. ORG Partners LLC now owns 9,182 shares of the retailer’s stock valued at $1,309,000 after purchasing an additional 7,953 shares in the last quarter. Live Oak Private Wealth LLC grew its holdings in Target by 14.8% during the fourth quarter. Live Oak Private Wealth LLC now owns 45,928 shares of the retailer’s stock valued at $6,541,000 after purchasing an additional 5,910 shares during the period. Finally, Vaughan David Investments LLC IL increased its position in Target by 2.4% in the fourth quarter. Vaughan David Investments LLC IL now owns 285,225 shares of the retailer’s stock worth $40,622,000 after buying an additional 6,716 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGT. Royal Bank of Canada boosted their price objective on Target from $157.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Bank of America upped their price target on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Oppenheimer lifted their target price on shares of Target from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, Morgan Stanley raised their price target on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Target has an average rating of “Moderate Buy” and an average target price of $182.04.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares in the company, valued at approximately $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is currently owned by company insiders.

Target Stock Performance

NYSE TGT opened at $165.01 on Tuesday. The business’s 50 day moving average price is $162.13 and its 200-day moving average price is $139.80. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a market cap of $76.18 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.56 and a beta of 1.14. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91.

Target (NYSE:TGT) last announced its earnings results 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. The business had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Sell-side analysts predict that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.67%. Target’s dividend payout ratio is 49.27%.

Target 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.