Target (NYSE:TGT) Share Price Passes Below 50-Day Moving Average After Insider Selling

Specifically, insider Stephanie A. Lundquist sold 8,367 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $88.01, for a total value of $736,379.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Janna A. Potts sold 8,759 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total transaction of $691,961.00. Following the completion of the transaction, the insider now directly owns 27,720 shares of the company’s stock, valued at approximately $2,189,880. The disclosure for this sale can be found here. Insiders sold 24,103 shares of company stock valued at $1,982,750 in the last three months. Company insiders own 0.19% of the company’s stock.

TGT has been the subject of a number of research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 price objective (up previously from $88.00) on shares of Target in a report on Thursday, April 18th. Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. BMO Capital Markets raised their price objective on shares of Target from $70.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Friday, March 8th. Finally, Evercore ISI initiated coverage on shares of Target in a report on Wednesday, March 20th. They issued an “in-line” rating and a $80.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Target has an average rating of “Buy” and a consensus price target of $89.33.

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88. The firm has a market capitalization of $45.24 billion, a PE ratio of 15.71, a P/E/G ratio of 2.11 and a beta of 0.57.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.10. Target had a net margin of 3.96% and a return on equity of 26.48%. The firm had revenue of $17.63 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter last year, the business earned $1.32 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts forecast that Target Co. will post 5.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 3.01%. Target’s dividend payout ratio (DPR) is presently 47.50%.

A number of institutional investors have recently added to or reduced their stakes in TGT. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of Target by 62.2% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock worth $29,000 after buying an additional 140 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Target during the 4th quarter worth approximately $25,000. Ameritas Investment Corp acquired a new stake in shares of Target during the 1st quarter worth approximately $31,000. Icon Wealth Partners LLC acquired a new stake in shares of Target during the 1st quarter worth approximately $31,000. Finally, Advisory Alpha LLC acquired a new stake in shares of Target during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

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About Target (NYSE:TGT)

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 décor products, electronics, toys, seasonal offerings, and other merchandise.

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