Segment Wealth Management LLC bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,672 shares of the retailer's stock, valued at approximately $279,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in Target in the 4th quarter worth about $29,000. Bernard Wealth Management Corp. acquired a new position in shares of Target in the fourth quarter worth about $29,000. Legacy Investment Solutions LLC raised its holdings in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after acquiring an additional 85 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Target during the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Target in the 4th quarter valued at approximately $40,000. 79.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on TGT. Baird R W cut Target from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Roth Capital set a $122.00 price target on Target in a report on Wednesday, March 5th. Bank of America downgraded Target from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $145.00 to $105.00 in a report on Thursday, May 22nd. UBS Group reduced their target price on shares of Target from $170.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Finally, DA Davidson decreased their target price on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Target currently has an average rating of "Hold" and a consensus price target of $116.70.
Check Out Our Latest Stock Report on Target
Target Trading Up 0.6%
Shares of TGT stock opened at $95.68 on Friday. The company has a market capitalization of $43.47 billion, a P/E ratio of 10.51, a P/E/G ratio of 2.74 and a beta of 1.22. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $95.67 and a 200 day moving average price of $114.01.
Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period in the previous year, the business posted $2.03 EPS. The business's quarterly revenue was down 2.8% on a year-over-year basis. Research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.
Target Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.68%. Target's dividend payout ratio is 49.23%.
Insider Buying and Selling at Target
In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider now owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.
Target Company Profile
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Free Report)
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.
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