Gitterman Wealth Management LLC Acquires Shares of 3,067 Target Corporation $TGT

Key Points

• Gitterman Wealth Management LLC purchased a new position in Target Corporation, acquiring 3,067 shares valued at approximately $320,000 during the first quarter.
• Insider Brian C. Cornell sold 45,000 shares at an average price of $96.18, resulting in a 15.44% decrease in his ownership stake in the company.
• Target's quarterly earnings topped expectations with an EPS of $2.05, while the company announced a quarterly dividend of $1.12 per share, representing a yield of 4.6%.

Gitterman Wealth Management LLC purchased a new position in Target Corporation (NYSE:TGT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,067 shares of the retailer's stock, valued at approximately $320,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after acquiring an additional 12,825,586 shares in the last quarter. Northern Trust Corp boosted its position in Target by 16.3% during the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock valued at $726,814,000 after purchasing an additional 754,883 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after purchasing an additional 1,406,653 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Target by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer's stock worth $542,020,000 after purchasing an additional 370,967 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Target by 61.2% during the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after purchasing an additional 1,506,275 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of a number of research reports. Barclays restated an "underweight" rating and issued a $91.00 price objective on shares of Target in a report on Monday, July 21st. Truist Financial increased their price target on shares of Target from $90.00 to $107.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. DA Davidson cut their price target on shares of Target from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and issued a $115.00 price objective on shares of Target in a report on Thursday. Finally, Evercore ISI lowered their target price on shares of Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $113.74.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Target Stock Performance

Shares of TGT traded down $2.19 during trading hours on Monday, reaching $97.05. 7,637,181 shares of the company traded hands, compared to its average volume of 7,152,869. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock's fifty day moving average is $102.06 and its 200 day moving average is $103.42. Target Corporation has a 1-year low of $87.35 and a 1-year high of $161.84. The stock has a market cap of $44.10 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period in the previous year, the company posted $2.57 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) is 53.15%.

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.