Allied Investment Advisors LLC Boosts Holdings in Target Co. (NYSE:TGT)

Allied Investment Advisors LLC lifted its holdings in shares of Target Co. (NYSE:TGT - Free Report) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,561 shares of the retailer's stock after purchasing an additional 8,613 shares during the period. Allied Investment Advisors LLC's holdings in Target were worth $7,259,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TGT. Horrell Capital Management Inc. lifted its holdings in Target by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer's stock valued at $3,603,000 after buying an additional 76 shares during the period. Fiducient Advisors LLC lifted its holdings in Target by 4.6% in the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock valued at $240,000 after buying an additional 78 shares during the period. CENTRAL TRUST Co lifted its holdings in Target by 0.4% in the fourth quarter. CENTRAL TRUST Co now owns 18,593 shares of the retailer's stock valued at $2,513,000 after buying an additional 82 shares during the period. Napatree Capital LLC lifted its holdings in Target by 2.4% in the fourth quarter. Napatree Capital LLC now owns 3,609 shares of the retailer's stock valued at $488,000 after buying an additional 85 shares during the period. Finally, Legacy Investment Solutions LLC lifted its holdings in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Roth Capital set a $122.00 target price on shares of Target in a report on Wednesday, March 5th. Royal Bank of Canada dropped their price objective on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Sanford C. Bernstein lowered shares of Target from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $97.00 to $82.00 in a report on Monday, May 12th. Baird R W lowered shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, Piper Sandler set a $94.00 price objective on shares of Target and gave the company a "neutral" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $116.68.

Target Stock Up 2.7%

TGT stock traded up $2.47 during trading on Tuesday, reaching $95.79. The stock had a trading volume of 6,384,876 shares, compared to its average volume of 6,034,534. Target Co. has a one year low of $87.35 and a one year 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 0.99. The company's 50 day moving average is $96.00 and its two-hundred day moving average is $117.31. The company has a market capitalization of $43.52 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 1.94 and a beta of 1.27.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the prior year, the company earned $2.03 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Wednesday, May 14th. Target's dividend payout ratio is currently 49.23%.

Insider Activity

In related 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 transaction of $4,328,100.00. Following the sale, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

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.