Secure Asset Management LLC Has $235,000 Holdings in Target Co. (NYSE:TGT)

Secure Asset Management LLC cut its stake in Target Co. (NYSE:TGT - Free Report) by 83.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,256 shares of the retailer's stock after selling 11,407 shares during the period. Secure Asset Management LLC's holdings in Target were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. bought a new stake in Target during the 4th quarter worth about $29,000. Bernard Wealth Management Corp. bought a new stake in Target during the 4th quarter worth about $29,000. Legacy Investment Solutions LLC lifted its position in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after buying an additional 85 shares in the last quarter. OFI Invest Asset Management bought a new stake in Target during the 4th quarter worth about $36,000. Finally, Hager Investment Management Services LLC bought a new stake in Target during the 4th quarter worth about $39,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm's 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 owns 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Target Stock Performance

NYSE TGT opened at $93.49 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $42.48 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 1.94 and a beta of 1.22. The firm's 50 day simple moving average is $95.38 and its 200 day simple moving average is $116.56. 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 posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion for 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 was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.03 EPS. As a group, 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 declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.79%. Target's dividend payout ratio is 49.23%.

Wall Street Analysts Forecast Growth

TGT has been the topic of several analyst reports. Jefferies Financial Group cut their price target on shares of Target from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Oppenheimer dropped their target price on shares of Target from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. The Goldman Sachs Group dropped their target price on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Sanford C. Bernstein cut shares of Target from a "market perform" rating to an "underperform" rating and dropped their target price for the company from $97.00 to $82.00 in a report on Monday, May 12th. Finally, Evercore ISI dropped their target price on shares of Target from $130.00 to $120.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $116.70.

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.

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