Fluent Financial LLC Cuts Stake in Target Co. (NYSE:TGT)

Fluent Financial LLC lowered its position in shares of Target Co. (NYSE:TGTGet Rating) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,224 shares of the retailer’s stock after selling 137 shares during the period. Fluent Financial LLC’s holdings in Target were worth $1,440,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Target in the fourth quarter valued at about $162,042,000. Arrowstreet Capital Limited Partnership grew its stake in Target by 34.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,101,878 shares of the retailer’s stock valued at $480,847,000 after purchasing an additional 536,364 shares during the last quarter. Capital World Investors boosted its holdings in Target by 7.2% in the third quarter. Capital World Investors now owns 7,275,047 shares of the retailer’s stock worth $1,664,313,000 after acquiring an additional 485,927 shares in the last quarter. Assetmark Inc. boosted its holdings in Target by 112.7% in the third quarter. Assetmark Inc. now owns 611,716 shares of the retailer’s stock worth $139,942,000 after acquiring an additional 324,105 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Target by 10.7% in the second quarter. Morgan Stanley now owns 3,164,273 shares of the retailer’s stock worth $764,931,000 after acquiring an additional 305,955 shares in the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

In other news, insider Brian C. Cornell sold 30,000 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $216.35, for a total value of $6,490,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert M. Harrison sold 2,080 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $217.87, for a total value of $453,169.60. The disclosure for this sale can be found here. Insiders have sold 99,363 shares of company stock valued at $21,970,253 over the last quarter. 0.29% of the stock is owned by company insiders.

Shares of Target stock traded up $1.93 on Friday, reaching $155.36. The company’s stock had a trading volume of 12,265,982 shares, compared to its average volume of 4,791,352. The company has a market capitalization of $72.04 billion, a P/E ratio of 12.88, a PEG ratio of 0.67 and a beta of 0.94. Target Co. has a 52-week low of $150.89 and a 52-week high of $268.98. The stock has a 50-day moving average price of $222.35 and a 200-day moving average price of $225.99. The company has a quick ratio of 0.35, a current ratio of 0.87 and a debt-to-equity ratio of 1.24.

Target (NYSE:TGTGet Rating) last posted its quarterly earnings data on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). The business had revenue of $24.83 billion during the quarter, compared to analysts’ expectations of $24.48 billion. Target had a net margin of 5.48% and a return on equity of 44.75%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.69 earnings per share. Sell-side analysts forecast that Target Co. will post 14.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, May 17th. Target’s dividend payout ratio (DPR) is presently 29.85%.

Several brokerages have weighed in on TGT. Cowen lowered their price target on Target from $265.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday. DA Davidson lowered their price target on Target from $293.00 to $205.00 and set a “buy” rating for the company in a report on Thursday. UBS Group lowered their price target on Target to $225.00 and set a “hold” rating for the company in a report on Thursday. Jefferies Financial Group decreased their target price on Target from $252.00 to $168.00 and set a “hold” rating for the company in a report on Thursday. Finally, BMO Capital Markets decreased their target price on Target from $250.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $223.42.

About Target (Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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