Shelter Mutual Insurance Co Trims Stock Position in Target Co. (NYSE:TGT)

Shelter Mutual Insurance Co cut its stake in shares of Target Co. (NYSE:TGT) by 8.8% in the 2nd quarter, Holdings Channel reports. The fund owned 57,430 shares of the retailer’s stock after selling 5,520 shares during the quarter. Shelter Mutual Insurance Co’s holdings in Target were worth $4,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of TGT. Advisory Alpha LLC acquired a new stake in shares of Target in the 1st quarter worth approximately $30,000. Icon Wealth Partners LLC acquired a new stake in shares of Target in the 1st quarter worth approximately $31,000. Larson Financial Group LLC acquired a new stake in shares of Target in the 2nd quarter worth approximately $31,000. C J Advisory Inc acquired a new stake in shares of Target in the 1st quarter worth approximately $33,000. Finally, Buffington Mohr McNeal acquired a new stake in shares of Target in the 1st quarter worth approximately $35,000. 83.09% of the stock is owned by hedge funds and other institutional investors.

NYSE:TGT traded up $0.92 during mid-day trading on Thursday, hitting $82.81. The company had a trading volume of 279,481 shares, compared to its average volume of 4,522,139. The business has a fifty day simple moving average of $86.08. The company has a quick ratio of 0.19, a current ratio of 0.88 and a debt-to-equity ratio of 1.21. Target Co. has a 1 year low of $60.15 and a 1 year high of $90.39. The company has a market capitalization of $42.03 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, beating the consensus estimate of $1.43 by $0.10. Target had a return on equity of 26.48% and a net margin of 3.96%. The company had revenue of $17.63 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same period last year, the company posted $1.32 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Target Co. will post 5.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.66 per share. The ex-dividend date is Tuesday, August 20th. This is an increase from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 3.19%. Target’s dividend payout ratio (DPR) is currently 47.50%.

TGT has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded Target from a “neutral” rating to an “overweight” rating and increased their target price for the company from $81.00 to $100.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. Robert W. Baird set a $90.00 target price on Target and gave the company a “buy” rating in a report on Monday. Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. Bank of America set a $105.00 target price on Target and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $92.00 target price (up from $88.00) on shares of Target in a research report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $90.06.

In other news, insider Janna A. Potts sold 8,759 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total transaction of $691,961.00. Following the completion of the sale, the insider now directly owns 27,720 shares in the company, valued at $2,189,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin sold 4,163 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $89.00, for a total value of $370,507.00. The disclosure for this sale can be found here. Insiders have sold 33,180 shares of company stock valued at $2,854,650 over the last 90 days. Insiders own 0.24% of the company’s stock.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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