6,908 Shares in Target Corporation (NYSE:TGT) Bought by Croban

Croban purchased a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,908 shares of the retailer's stock, valued at approximately $721,000.

Other hedge funds have also recently made changes to their positions in the company. Burford Brothers Inc. lifted its stake in shares of Target by 93.2% in the 1st quarter. Burford Brothers Inc. now owns 13,220 shares of the retailer's stock valued at $1,380,000 after acquiring an additional 6,377 shares during the last quarter. Correct Capital Wealth Management boosted its stake in shares of Target by 44.7% during the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock valued at $1,415,000 after purchasing an additional 4,189 shares during the period. Allworth Financial LP grew its holdings in shares of Target by 0.9% in the first quarter. Allworth Financial LP now owns 33,420 shares of the retailer's stock worth $3,185,000 after purchasing an additional 287 shares during the last quarter. Peoples Financial Services CORP. grew its holdings in shares of Target by 5.4% in the first quarter. Peoples Financial Services CORP. now owns 5,024 shares of the retailer's stock worth $524,000 after purchasing an additional 257 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC increased its stake in shares of Target by 33.1% in the first quarter. Parr Mcknight Wealth Management Group LLC now owns 25,813 shares of the retailer's stock worth $2,694,000 after buying an additional 6,423 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Stock Up 2.3%

Shares of NYSE TGT opened at $104.83 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a 50-day simple moving average of $97.55 and a two-hundred day simple moving average of $110.97. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The company has a market cap of $47.63 billion, a P/E ratio of 11.52, a PEG ratio of 2.93 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 earnings per share. Research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is 49.23%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Target from $82.00 to $90.00 and gave the stock a "hold" rating in a report on Thursday, May 22nd. BMO Capital Markets dropped their price target on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Thursday, May 22nd. Cfra Research cut shares of Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. Evercore ISI lowered their price objective on shares of Target from $130.00 to $120.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Finally, DA Davidson cut their price objective on Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $116.70.

Insider Buying and Selling

In other news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company's stock.

Target Profile

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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