Ameriprise Financial Inc. Has $281.82 Million Stock Position in Target Corporation $TGT

Key Points

• Ameriprise Financial Inc. has reduced its stake in Target Corporation by 31.9%, selling 1,267,482 shares, and now holds approximately 0.59% of the company's stock valued at $281.8 million.
• Target's insider, Brian C. Cornell, sold 45,000 shares at $96.18 each, marking a 15.44% decrease in his holdings.
• Analyst ratings are mixed, with ten analyststhree$113.74.

Ameriprise Financial Inc. decreased its position in Target Corporation (NYSE:TGT - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,700,555 shares of the retailer's stock after selling 1,267,482 shares during the period. Ameriprise Financial Inc. owned 0.59% of Target worth $281,818,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. boosted its holdings in Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after buying an additional 12,825,586 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock worth $343,312,000 after buying an additional 3,065,035 shares during the last quarter. Nuveen LLC bought a new position in Target during the first quarter worth about $186,361,000. Goldman Sachs Group Inc. boosted its holdings in Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock worth $560,420,000 after buying an additional 1,406,653 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in Target during the fourth quarter worth about $182,882,000. Institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of recent analyst reports. Bank of America restated an "underperform" rating and set a $93.00 target price (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Piper Sandler reiterated a "neutral" rating on shares of Target in a report on Tuesday, July 29th. Evercore ISI cut their price objective on Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday. Wedbush reiterated an "outperform" rating on shares of Target in a report on Thursday, July 17th. Finally, Sanford C. Bernstein cut Target from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $97.00 to $82.00 in a report on Monday, May 12th. Ten analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Target currently has a consensus rating of "Hold" and an average target price of $113.74.

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 owned 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. 0.16% of the stock is owned by company insiders.

Target Stock Down 2.2%

Target stock traded down $2.19 during midday trading on Monday, reaching $97.05. The stock had a trading volume of 7,637,181 shares, compared to its average volume of 7,662,069. The firm's fifty day simple moving average is $102.06 and its 200-day simple moving average is $103.18. Target Corporation has a 1-year low of $87.35 and a 1-year high of $161.84. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

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

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given 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 dividend yield of 4.6%. Target's payout ratio is 53.15%.

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.