Target (NYSE:TGT) Stock Price Down 1.6% After Insider Selling

Target Co. (NYSE:TGT - Get Free Report) traded down 1.6% during trading on Monday following insider selling activity. The company traded as low as $92.06 and last traded at $92.52. 1,694,851 shares changed hands during trading, a decline of 72% from the average session volume of 6,017,711 shares. The stock had previously closed at $94.01.

Specifically, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction that occurred 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 owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank of Canada dropped their price objective on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. The Goldman Sachs Group dropped their price objective on Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Evercore ISI dropped their price objective on Target from $130.00 to $120.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Sanford C. Bernstein downgraded Target from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $97.00 to $82.00 in a research note on Monday, May 12th. Finally, Stifel Nicolaus dropped their price objective on Target from $130.00 to $120.00 and set a "hold" rating on the stock in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Target presently has an average rating of "Hold" and a consensus price target of $116.68.

Target Price Performance

The firm's 50-day moving average is $96.00 and its 200-day moving average is $117.31. The company has a market capitalization of $43.52 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last announced its 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). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. Equities analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders 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 yield of 4.68%. Target's payout ratio is 49.23%.

Institutional Trading of Target

Institutional investors have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. purchased a new stake in Target during the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. purchased a new stake in Target during the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC boosted its position in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares during the period. OFI Invest Asset Management purchased a new stake in Target during the fourth quarter valued at about $36,000. Finally, Hager Investment Management Services LLC purchased a new stake in Target during the fourth quarter valued at about $39,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.