Target Co. (NYSE:TGT) Insider Brian C. Cornell Sells 45,000 Shares

Target Co. (NYSE:TGT - Get Free Report) insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Target Stock Performance

Shares of TGT traded down $1.75 during mid-day trading on Monday, reaching $92.26. The company had a trading volume of 1,230,400 shares, compared to its average volume of 6,016,105. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $41.92 billion, a P/E ratio of 9.79, a PEG ratio of 1.94 and a beta of 1.27. The stock has a 50 day moving average of $96.26 and a two-hundred day moving average of $117.72.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS. On average, analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.86%. Target's payout ratio is currently 49.23%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TGT shares. The Goldman Sachs Group cut their price target on Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Barclays started coverage on Target in a report on Thursday, May 22nd. They issued an "equal weight" rating for the company. Wells Fargo & Company dropped their target price on Target from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. KGI Securities set a $132.00 target price on Target in a report on Wednesday, March 5th. Finally, Gordon Haskett cut Target from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $116.68.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors increased its holdings in shares of Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after acquiring an additional 12,825,586 shares during the period. FMR LLC grew its position in Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after acquiring an additional 1,358,348 shares during the period. Geode Capital Management LLC grew its position in Target by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer's stock worth $1,332,317,000 after acquiring an additional 470,990 shares during the period. Finally, Norges Bank purchased a new position in Target in the fourth quarter worth approximately $757,892,000. Institutional investors and hedge funds own 79.73% of the company's stock.

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.