Folger Nolan Fleming Douglas Capital Management Inc. Sells 205 Shares of Target Co. (NYSE:TGT)

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in shares of Target Co. (NYSE:TGTGet Rating) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,545 shares of the retailer’s stock after selling 205 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Target were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Target during the 4th quarter worth approximately $1,094,330,000. Capital World Investors grew its holdings in Target by 22.9% during the 4th quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after acquiring an additional 1,666,948 shares during the last quarter. Nordea Investment Management AB grew its holdings in Target by 73.9% during the 1st quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock worth $414,599,000 after acquiring an additional 808,485 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Target by 1,140.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock worth $148,934,000 after acquiring an additional 645,209 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Target by 40.3% during the 4th quarter. Alliancebernstein L.P. now owns 2,148,499 shares of the retailer’s stock worth $497,249,000 after acquiring an additional 617,060 shares during the last quarter. 77.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of research reports. KeyCorp initiated coverage on shares of Target in a report on Wednesday, September 14th. They set an “overweight” rating and a $200.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Target from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. The Goldman Sachs Group boosted their price target on shares of Target from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. DA Davidson boosted their target price on shares of Target to $203.00 in a research report on Monday, August 22nd. Finally, Cowen boosted their target price on shares of Target to $210.00 in a research report on Monday, August 22nd. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.67.

Insider Transactions at Target

In related news, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now owns 118,425 shares of the company’s stock, valued at approximately $19,660,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now owns 118,425 shares of the company’s stock, valued at approximately $19,660,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew A. Liegel sold 1,226 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the completion of the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at approximately $488,725.60. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Target Trading Down 1.8 %

Shares of Target stock traded down $2.81 during trading on Friday, hitting $150.15. The stock had a trading volume of 268,961 shares, compared to its average volume of 3,364,889. The firm’s fifty day simple moving average is $163.84 and its 200-day simple moving average is $182.03. The stock has a market cap of $69.11 billion, a PE ratio of 17.10, a PEG ratio of 1.99 and a beta of 1.02. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14. Target Co. has a 12 month low of $137.16 and a 12 month high of $268.98.

Target (NYSE:TGTGet Rating) last released its earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.32). The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $26.07 billion. Target had a return on equity of 35.15% and a net margin of 3.92%. Target’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.64 EPS. As a group, sell-side analysts expect that Target Co. will post 8.11 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.88%. Target’s dividend payout ratio (DPR) is presently 49.09%.

Target Company Profile

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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