Advocate Group LLC grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,454 shares of the retailer's stock after buying an additional 3,238 shares during the quarter. Advocate Group LLC's holdings in Target were worth $6,726,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Hopwood Financial Services Inc. acquired a new stake in shares of Target in the fourth quarter valued at $29,000. Bernard Wealth Management Corp. acquired a new stake in Target in the fourth quarter worth about $29,000. Legacy Investment Solutions LLC increased its position in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares during the period. OFI Invest Asset Management acquired a new stake in Target in the fourth quarter worth about $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Target in the fourth quarter worth about $40,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Wells Fargo & Company lowered their price objective on Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. DA Davidson lowered their price objective on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Oppenheimer lowered their price objective on Target from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, Barclays initiated coverage on Target in a research report on Thursday, May 22nd. They issued an "equal weight" rating for the company. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $116.70.
View Our Latest Stock Report on Target
Insider Buying and Selling at Target
In other Target news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 246,453 shares of the company's stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company's stock.
Target Stock Up 0.6%
NYSE TGT traded up $0.56 during trading on Friday, hitting $95.68. The stock had a trading volume of 9,617,603 shares, compared to its average volume of 6,188,032. The company has a market capitalization of $43.47 billion, a PE ratio of 10.51, a P/E/G ratio of 2.75 and a beta of 1.22. The company's 50-day moving average price is $95.67 and its two-hundred day moving average price is $113.90. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40.
Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The company's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 EPS. As a group, sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current year.
Target Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is 49.23%.
About Target
(
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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