Target (NYSE:TGT) Trading Down 1.6% on Insider Selling

Shares of Target Co. (NYSE:TGT) traded down 1.6% during mid-day trading on Monday following insider selling activity. The company traded as low as $92.06 and last traded at $92.52. 1,694,851 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 6,017,711 shares. The stock had previously closed at $94.01.

Specifically, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider now directly owns 246,453 shares of the company’s stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TGT shares. Mizuho lowered their target price on Target from $92.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Sanford C. Bernstein lowered shares of Target from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $97.00 to $82.00 in a research note on Monday, May 12th. Evercore ISI reduced their price target on shares of Target from $130.00 to $120.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, Oppenheimer dropped their price objective on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Target has an average rating of “Hold” and an average target price of $116.70.

Target Stock Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market cap of $43.52 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company’s 50 day moving average price is $95.79 and its 200-day moving average price is $117.16.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The firm had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 earnings per share. Equities research analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Wednesday, May 14th. Target’s dividend payout ratio (DPR) is currently 49.23%.

Institutional Investors Weigh In On Target

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. Bernard Wealth Management Corp. bought a new stake in shares of Target during the 4th quarter valued at $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Target during the 4th quarter valued at $29,000. Legacy Investment Solutions LLC increased its holdings in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Target in the fourth quarter worth $36,000. Finally, Hager Investment Management Services LLC bought a new stake in Target during the fourth quarter valued at $39,000. 79.73% of the stock is currently owned by institutional investors.

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.