Cullen Investment Group LTD. Trims Position in Target Co. (NYSE:TGT)

Cullen Investment Group LTD. trimmed its position in shares of Target Co. (NYSE:TGT) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,841 shares of the retailer’s stock after selling 320 shares during the quarter. Cullen Investment Group LTD.’s holdings in Target were worth $1,222,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC acquired a new position in shares of Target during the 2nd quarter valued at about $25,000. Washington Trust Advisors Inc. increased its stake in Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Slocum Gordon & Co LLP purchased a new position in Target in the second quarter valued at approximately $28,000. Retirement Group LLC grew its position in shares of Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after acquiring an additional 91 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Melius Research initiated coverage on Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price for the company. Morgan Stanley restated an “overweight” rating and issued a $180.00 price target on shares of Target in a report on Wednesday, August 21st. Oppenheimer decreased their target price on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Royal Bank of Canada boosted their price target on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock valued at $8,290,995 in the last ninety days. 0.23% of the stock is owned by company insiders.

Target Stock Performance

TGT stock traded up $3.28 during trading on Friday, reaching $152.88. The stock had a trading volume of 3,557,483 shares, compared to its average volume of 4,000,033. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The firm has a market cap of $70.73 billion, a PE ratio of 17.16, a PEG ratio of 2.00 and a beta of 1.24. The stock’s 50 day moving average is $149.11 and its two-hundred day moving average is $154.08.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $1.80 EPS. As a group, equities analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 50.28%.

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.