Wealth Enhancement Advisory Services LLC Sells 6,499 Shares of Target Corporation (NYSE:TGT)

Wealth Enhancement Advisory Services LLC lessened its position in shares of Target Corporation (NYSE:TGT - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,587 shares of the retailer's stock after selling 6,499 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Target were worth $16,655,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TGT. Griffin Asset Management Inc. increased its holdings in shares of Target by 10.0% during the first quarter. Griffin Asset Management Inc. now owns 69,606 shares of the retailer's stock worth $7,264,000 after buying an additional 6,352 shares in the last quarter. Powers Advisory Group LLC increased its holdings in shares of Target by 2.0% during the first quarter. Powers Advisory Group LLC now owns 9,281 shares of the retailer's stock worth $969,000 after buying an additional 179 shares in the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of Target by 13.1% during the first quarter. Elevation Point Wealth Partners LLC now owns 29,192 shares of the retailer's stock worth $3,046,000 after buying an additional 3,376 shares in the last quarter. Opinicus Capital Inc. increased its holdings in shares of Target by 18.8% during the first quarter. Opinicus Capital Inc. now owns 10,253 shares of the retailer's stock worth $1,070,000 after buying an additional 1,619 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its holdings in shares of Target by 10.4% during the first quarter. Stanley Laman Group Ltd. now owns 21,996 shares of the retailer's stock worth $2,295,000 after buying an additional 2,070 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Target 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 completion of the sale, the insider now owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Target Price Performance

Shares of Target stock opened at $95.68 on Monday. Target Corporation has a one year low of $87.35 and a one year high of $167.40. The stock's fifty day moving average is $95.67 and its 200 day moving average is $113.80. The stock has a market cap of $43.47 billion, a P/E ratio of 10.51, a P/E/G ratio of 2.75 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the prior year, the business posted $2.03 earnings per share. Target's revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.68%. Target's dividend payout ratio is currently 49.23%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TGT. Barclays started coverage on shares of Target in a research note on Thursday, May 22nd. They issued an "equal weight" rating on the stock. Roth Capital set a $122.00 target price on shares of Target in a report on Wednesday, March 5th. DA Davidson decreased their price objective on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Mizuho reduced their target price on shares of Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Finally, Baird R W downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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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