IMA Wealth Inc. Sells 1,069 Shares of Target Co. (NYSE:TGT)

IMA Wealth Inc. decreased its holdings in Target Co. (NYSE:TGT) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,480 shares of the retailer’s stock after selling 1,069 shares during the period. IMA Wealth Inc.’s holdings in Target were worth $2,205,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Target by 1.6% in the third quarter. Vanguard Group Inc. now owns 44,527,706 shares of the retailer’s stock worth $4,923,428,000 after purchasing an additional 702,565 shares during the last quarter. FMR LLC grew its stake in shares of Target by 26.5% in the third quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock worth $747,699,000 after purchasing an additional 1,415,900 shares during the last quarter. Northern Trust Corp grew its stake in shares of Target by 2.7% in the third quarter. Northern Trust Corp now owns 5,146,067 shares of the retailer’s stock worth $569,001,000 after purchasing an additional 134,262 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Target by 8.8% in the third quarter. Stifel Financial Corp now owns 3,569,969 shares of the retailer’s stock worth $394,739,000 after purchasing an additional 287,748 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Target by 3.8% in the third quarter. Invesco Ltd. now owns 3,469,168 shares of the retailer’s stock worth $383,586,000 after purchasing an additional 127,491 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.2 %

Shares of TGT traded up $0.30 on Friday, reaching $164.74. The company’s stock had a trading volume of 2,085,518 shares, compared to its average volume of 2,821,609. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock has a market capitalization of $76.06 billion, a PE ratio of 18.45, a PEG ratio of 1.54 and a beta of 1.14. The firm has a fifty day moving average of $165.52 and a 200-day moving average of $143.02.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. During the same quarter in the prior year, the business posted $1.89 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities analysts predict that Target Co. will post 9.39 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.67%. Target’s dividend payout ratio (DPR) is 49.27%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares in the company, valued at approximately $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares in the company, valued at approximately $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,600 shares of company stock worth $8,819,598. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TGT. DA Davidson upped their price target on shares of Target from $167.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. upped their price target on shares of Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Oppenheimer upped their price target on shares of Target from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Finally, Telsey Advisory Group upped their price target on shares of Target from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Target has an average rating of “Moderate Buy” and an average price target of $181.85.

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.