HCR Wealth Advisors Sells 1,014 Shares in Target Company (NYSE:TGT)

Financial Advisors


HCR Wealth Advisors reduced its stake in Target (NYSE: TGT – Get Rating) by 6.5% in the fourth quarter, according to the firm’s latest 13F filing with the Securities and Exchange Commission. The fund held 14,615 shares in the company after selling 1,014 shares during the period. HCR Wealth Advisors’ target stock was worth $2.178 million at the end of the most recent quarter.

A number of other institutional investors have also recently changed positions at TGT. The Health Care of Ontario Pension Plan Trust Fund increased shares of its target stock by 3,577.5% in the first quarter. The Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares in the company, valued at $312,000, after acquiring an additional 1,431 shares in the previous quarter. Zions Bancorporation NA increased its target stock stake by 3.3% during the first quarter. Zions Bancorporation NA acquired an additional 96 shares last quarter and now owns 3,045 shares of the company, valued at $646,000. Covestor Ltd increased its shares in the target stock by 131.7% during the first quarter. Covestor Ltd acquired an additional 399 shares last quarter and now owns 702 shares in the company valued at $149,000. Merit Financial Group LLC purchased approximately $208,000 worth of new Target stock during the first quarter. Finally, Ergoteles LLC increased its stake in the target stock by 191.5% during the first quarter. Ergoteles LLC acquired an additional 7,748 shares last quarter and now owns 11,794 shares of the company, valued at $2,503,000. Institutional investors hold 78.86% of the company’s shares.

target price performance

The NYSE TGT fell $0.04 to $131.12 during Friday trading hours. The company’s stock averaged 3,508,222 shares traded against his 3,690,809 shares. Target is at a 52-week low of $126.75 and a 52-week high of $183.89. The company has a market cap of $60.52 billion, a P/E of 22.35, a PEG ratio of 1.03, and a beta of 1.03. The company has a debt to equity ratio of 1.38, a current ratio of 0.88 and a quick ratio of 0.18. The company’s 50-day moving average is $156.47 and its 200-day moving average is $159.55.

Target (NYSE:TGT – Get Rating) last released quarterly earnings data on Wednesday, May 17. The company reported earnings per share (EPS) of $2.05 for the quarter, beating consensus expectations of $1.76 by $0.29. The target net profit margin was 2.49% and return on equity was 24.49%. The company’s revenue for the quarter was $24.95 billion, compared with analyst expectations of $25.28 billion. The company’s EPS in the year-ago quarter was $2.19. Target revenue increased 0.5% year-over-year. Equity analysts expect Target’s EPS to hit $8.29 this quarter.

Target Announces Dividend

The company also recently announced a quarterly dividend to be paid on Saturday, June 10. On Wednesday, May 17, the investor of record will be paid his $1.08 dividend per share. The ex-dividend date for this dividend will be Tuesday, May 16. This equates to an annualized dividend of $4.32 and a yield of 3.29%. Target’s payout ratio is currently 73.59%.

Insider activity

In other news, CAO Matthew A. Liegel sold 1,459 shares in a transaction that took place on Thursday, May 18th. The shares were sold at an average price of $160.75 for a total of $234,534.25. After the sale was completed, the Chief Accounting Officer now owns 3,748 shares of the company’s stock valued at approximately $602,491. The deal was disclosed in his SEC filing, which can be accessed at this link. In other news, CAO Matthew A. Liegel sold 1,459 shares in the company in a transaction held on Thursday, May 18th. The shares were sold at an average price of $160.75 for a total of $234,534.25. Following the transaction, the Chief Accounting Officer directly owned 3,748 shares of the company’s stock, valued at approximately $602,491. The sale is disclosed in his SEC filings, which can be accessed via this hyperlink. And insider Brian C. Cornell sold 35,000 shares of the company in a deal that took place on Tuesday, March 14. The stock sold at an average price of $158.98, giving him a trading value of $5,564,300.00. Following the closing of the transaction, insiders will own 191,272 shares of the company, valued at $30,408,422.56. Disclosure information regarding this sale can be found here. Corporate insiders own 0.29% of the company’s shares.

Analysts set new price target

Several equity analysts recently published reports on TGT stock. Cowen lowered its target price on the target stock from $210.00 to $200.00 and set the stock’s rating to “outperform,” in a report on Wednesday, Feb. 15. StockNews.com upgraded the target stock from a ‘hold’ rating to a ‘buy’ rating in a report on Monday. Morgan Stanley reissued an ‘equal weight’ rating in its report on Monday, Feb. 13, with a price target of $155.00 on the target stock. In a report on Thursday, JPMorgan Chase downgraded its target stock from ‘overweight’ to ‘neutral’ and lowered its price target to $144.00 from $182.00. Finally, Robert W. Baird raised his price target on Target from $180.00 to $195.00, giving the stock an “Outperform” rating in its report on Wednesday, March 1. Thirteen equity research analysts assigned a Hold rating, 16 a Buy rating, and one Strong Buy rating to the company’s shares. MarketBeat data shows the target’s consensus rating is currently “moderate buy” with an average target price of $179.72.

About Target

(get rating)

Target Corp. operates and owns general merchandise stores. We have fresh and dry foods, dairy products, frozen foods and more. The company was founded by George Draper Dayton in his 1902 and is headquartered in Minneapolis, Minnesota.

References

Want to know if other hedge funds hold TGT? Visit HoldingsChannel.com to get Target’s latest 13F filings and insider trading (NYSE:TGT – Get Rated).

Target Quarterly Institutional Ownership Ratio (NYSE:TGT)

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