Fayerweather Charles Cuts Stake in Target Corporation (NYSE:TGT)

Fayerweather Charles lowered its position in Target Corporation (NYSE:TGT) by 21.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,310 shares of the retailer’s stock after selling 1,150 shares during the period. Fayerweather Charles’ holdings in Target Corporation were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TGT. Cribstone Capital Management LLC boosted its stake in Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the period. Reilly Financial Advisors LLC boosted its stake in Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the period. Pinnacle Bank purchased a new stake in Target Corporation during the first quarter worth $123,000. Peoples Financial Services CORP. boosted its stake in Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares during the period. 82.63% of the stock is currently owned by institutional investors.

Shares of Target Corporation (TGT) traded up 0.07% on Friday, hitting $55.68. 2,452,439 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $53.97 and its 200 day moving average price is $56.53. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The company has a market cap of $30.72 billion, a price-to-earnings ratio of 11.41 and a beta of 0.61. Target Corporation also saw unusually large options trading on Tuesday. Traders purchased 43,644 call options on the stock. This represents an increase of 350% compared to the typical volume of 9,688 call options.

Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.30. The company had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 EPS. On average, equities research analysts expect that Target Corporation will post $4.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be given a $0.62 dividend. The ex-dividend date is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.46%. Target Corporation’s payout ratio is currently 48.98%.

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A number of analysts recently weighed in on the stock. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price objective on the stock in a report on Monday, June 19th. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Target Corporation in a report on Friday, July 14th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $64.00 price objective on shares of Target Corporation in a report on Friday, July 14th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.99.

In related news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by insiders.

About Target Corporation

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

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