Alps Advisors Inc. Trims Stock Holdings in Target Corporation (NYSE:TGT)

Alps Advisors Inc. reduced its stake in Target Corporation (NYSE:TGT - Free Report) by 36.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,809 shares of the retailer's stock after selling 3,334 shares during the quarter. Alps Advisors Inc.'s holdings in Target were worth $606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the fourth quarter valued at $29,000. Legacy Investment Solutions LLC lifted its position in shares of 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 acquiring an additional 85 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Target in the fourth quarter valued at $40,000. Atwood & Palmer Inc. lifted its position in shares of Target by 951.4% in the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after acquiring an additional 352 shares in the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of Target in the first quarter valued at $43,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business's 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TGT has been the topic of several recent analyst reports. Truist Financial increased their target price on Target from $82.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, May 22nd. Piper Sandler set a $94.00 target price on Target and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group reduced their target price on Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada reduced their target price on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $116.70.

Target Trading Up 0.7%

TGT opened at $104.97 on Tuesday. The firm has a market capitalization of $47.69 billion, a P/E ratio of 11.53, a P/E/G ratio of 2.98 and a beta of 1.22. The firm's 50 day moving average is $97.91 and its 200-day moving average is $110.24. Target Corporation has a 52-week low of $87.35 and a 52-week 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.

Target (NYSE:TGT - Get Free Report) last released its quarterly 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 return on equity of 25.59% and a net margin of 3.95%. The company 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 firm's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts expect that Target Corporation will post 8.69 EPS for the current fiscal 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 paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.27%. Target's payout ratio is 49.23%.

Target Company 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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