Target Co. (NYSE:TGT) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC lessened its position in Target Co. (NYSE:TGT - Free Report) by 58.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,103 shares of the retailer's stock after selling 8,609 shares during the quarter. JGP Wealth Management LLC's holdings in Target were worth $637,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TGT. Brighton Jones LLC grew its stake in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after buying an additional 3,059 shares in the last quarter. Strategic Blueprint LLC grew its stake in shares of Target by 74.6% in the fourth quarter. Strategic Blueprint LLC now owns 2,716 shares of the retailer's stock valued at $367,000 after buying an additional 1,160 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of Target in the fourth quarter valued at $479,000. SOL Capital Management CO grew its stake in shares of Target by 27.6% in the fourth quarter. SOL Capital Management CO now owns 3,880 shares of the retailer's stock valued at $524,000 after buying an additional 840 shares in the last quarter. Finally, Mediolanum International Funds Ltd grew its stake in shares of Target by 142.3% in the fourth quarter. Mediolanum International Funds Ltd now owns 11,524 shares of the retailer's stock valued at $1,552,000 after buying an additional 6,767 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Price Performance

NYSE:TGT traded up $0.21 during trading hours on Thursday, reaching $94.15. 2,438,642 shares of the company traded hands, compared to its average volume of 6,027,135. The firm's 50-day moving average is $95.60 and its 200-day moving average is $117.00. The stock has a market cap of $42.78 billion, a P/E ratio of 9.98, a P/E/G ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT - Get Free Report) last issued 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). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. During the same period in the prior year, the company earned $2.03 EPS. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Wednesday, May 14th. Target's dividend payout ratio (DPR) is currently 49.23%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup lowered their target price on Target from $97.00 to $94.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Oppenheimer lowered their target price on Target from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Guggenheim lowered their price objective on Target from $155.00 to $115.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Royal Bank of Canada lowered their price objective on Target from $112.00 to $103.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Finally, Baird R W cut Target from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. One research 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 stock. According to data from MarketBeat.com, Target currently has a consensus rating of "Hold" and a consensus target price of $116.70.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on 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 approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

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.