Norden Group LLC Reduces Stock Holdings in Target Co. (NYSE:TGT)

Norden Group LLC cut its stake in shares of Target Co. (NYSE:TGT) by 6.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,089 shares of the retailer’s stock after selling 140 shares during the period. Norden Group LLC’s holdings in Target were worth $309,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TGT. Triad Wealth Partners LLC acquired a new position in shares of Target in the 2nd quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Target in the fourth quarter worth $28,000. Slocum Gordon & Co LLP acquired a new stake in Target in the second quarter valued at $28,000. Private Wealth Management Group LLC bought a new position in Target during the 4th quarter valued at $29,000. Finally, Scarborough Advisors LLC acquired a new position in Target during the 4th quarter worth $29,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $150.59 on Tuesday. The stock’s 50 day moving average price is $147.73 and its 200 day moving average price is $155.14. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market cap of $69.37 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.95 and a beta of 1.24. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the previous year, the business earned $1.80 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 annualized dividend and a dividend yield of 2.97%. Target’s dividend payout ratio (DPR) is 50.28%.

Insider Buying and Selling

In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TGT. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Jefferies Financial Group boosted their price target on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Robert W. Baird restated an “outperform” rating and set a $190.00 price objective on shares of Target in a research note on Thursday, May 23rd. Finally, Oppenheimer lowered their target price on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Target has an average rating of “Moderate Buy” and an average price target of $179.68.

About Target

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.