Sigma Planning Corp Sells 7,847 Shares of Target Co. (NYSE:TGT)

Sigma Planning Corp reduced its position in Target Co. (NYSE:TGT) by 66.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the retailer’s stock after selling 7,847 shares during the quarter. Sigma Planning Corp’s holdings in Target were worth $570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Handelsbanken Fonder AB increased its position in shares of Target by 13.7% during the fourth quarter. Handelsbanken Fonder AB now owns 160,734 shares of the retailer’s stock worth $22,892,000 after acquiring an additional 19,408 shares during the period. CWM LLC increased its holdings in Target by 198.1% during the fourth quarter. CWM LLC now owns 55,469 shares of the retailer’s stock valued at $7,900,000 after buying an additional 36,864 shares during the period. Criterion Capital Advisors LLC purchased a new position in Target during the fourth quarter valued at approximately $60,000. Signaturefd LLC increased its holdings in Target by 30.1% during the fourth quarter. Signaturefd LLC now owns 11,276 shares of the retailer’s stock valued at $1,606,000 after buying an additional 2,606 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in Target by 2.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 3,487 shares of the retailer’s stock valued at $497,000 after buying an additional 99 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

NYSE:TGT opened at $165.37 on Thursday. The company’s 50-day moving average is $164.85 and its two-hundred day moving average is $142.46. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The firm has a market capitalization of $76.35 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.56 and a beta of 1.14.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping the consensus estimate of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The firm had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. During the same period in the prior year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts forecast that Target Co. will post 9.39 EPS for the current year.

Target Announces Dividend

The firm 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 $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is currently 49.27%.

Analyst Ratings Changes

TGT has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI lowered their price objective on shares of Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Telsey Advisory Group boosted their target price on shares of Target from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Barclays boosted their target price on shares of Target from $142.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Finally, Gordon Haskett lifted their price objective on shares of Target from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Target has an average rating of “Moderate Buy” and a consensus target price of $181.85.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock valued at $8,819,598 in the last ninety days. Company insiders own 0.23% of the company’s stock.

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.