Target Co. (NYSE:TGT) Shares Sold by Corundum Group Inc.

Corundum Group Inc. reduced its stake in Target Co. (NYSE:TGT) by 29.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,559 shares of the retailer’s stock after selling 2,713 shares during the period. Corundum Group Inc.’s holdings in Target were worth $1,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in shares of Target by 864.4% during the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock worth $8,205,000 after buying an additional 51,639 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Target in the 1st quarter valued at $38,000. Harbor Investment Advisory LLC lifted its position in shares of Target by 81.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,886 shares of the retailer’s stock worth $334,000 after purchasing an additional 847 shares during the last quarter. Austin Private Wealth LLC grew its stake in shares of Target by 12.3% during the first quarter. Austin Private Wealth LLC now owns 1,756 shares of the retailer’s stock worth $308,000 after purchasing an additional 193 shares in the last quarter. Finally, Annex Advisory Services LLC purchased a new position in Target in the first quarter valued at $200,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen increased their price objective on Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Roth Mkm raised their price objective on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Royal Bank of Canada upped their target price on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Jefferies Financial Group lifted their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.69.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 in the last quarter. Company insiders own 0.23% of the company’s stock.

Target Trading Up 0.6 %

Shares of TGT stock opened at $156.84 on Monday. Target Co. has a 1-year low of $105.23 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The business’s fifty day moving average price is $152.25 and its 200 day moving average price is $152.57. The firm has a market capitalization of $72.56 billion, a PE ratio of 17.60, a P/E/G ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.80 EPS. As a group, sell-side analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 50.28%.

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.