Janna A. Potts Sells 8,759 Shares of Target Co. (TGT) Stock

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Target Co. (NYSE:TGT) insider Janna A. Potts sold 8,759 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $79.00, for a total value of $691,961.00. Following the completion of the sale, the insider now owns 27,720 shares of the company’s stock, valued at $2,189,880. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

TGT opened at $81.57 on Monday. Target Co. has a 12-month low of $60.15 and a 12-month high of $90.39. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08. The stock has a market cap of $42.05 billion, a P/E ratio of 15.13, a PEG ratio of 1.97 and a beta of 0.65.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. Target had a return on equity of 25.74% and a net margin of 3.90%. The firm had revenue of $17.63 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the prior year, the company earned $1.32 EPS. Target’s revenue was up 5.0% on a year-over-year basis. Equities analysts forecast that Target Co. will post 5.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is 47.50%.

TGT has been the subject of several analyst reports. Evercore ISI began coverage on Target in a report on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 target price for the company. Telsey Advisory Group reiterated an “outperform” rating and set a $92.00 price target (up from $88.00) on shares of Target in a report on Thursday, April 18th. Gordon Haskett upgraded Target from an “accumulate” rating to a “buy” rating in a report on Thursday, March 21st. Barclays upgraded Target from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $115.00 in a report on Monday, April 29th. Finally, Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $89.97.

A number of institutional investors and hedge funds have recently bought and sold shares of TGT. Vanguard Group Inc lifted its stake in Target by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock worth $3,381,221,000 after acquiring an additional 151,096 shares in the last quarter. BB&T Corp raised its position in Target by 31.1% in the 4th quarter. BB&T Corp now owns 36,839 shares of the retailer’s stock valued at $2,435,000 after purchasing an additional 8,732 shares in the last quarter. Clean Yield Group acquired a new stake in Target in the 4th quarter valued at about $44,000. Tributary Capital Management LLC acquired a new stake in Target in the 4th quarter valued at about $90,000. Finally, First National Bank of Omaha raised its position in Target by 2.9% in the 4th quarter. First National Bank of Omaha now owns 44,807 shares of the retailer’s stock valued at $2,961,000 after purchasing an additional 1,273 shares in the last quarter. 82.48% of the stock is currently owned by hedge funds and other institutional investors.

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Target Company 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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Insider Buying and Selling by Quarter for Target (NYSE:TGT)

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