Target Corporation (NYSE:TGT) Stock Holdings Cut by Argent Trust Co

Key Points

• Argent Trust Co reduced its stake in Target Corporation by 23.2%, owning 46,630 shares valued at approximately $4.87 million after selling 14,065 shares in the first quarter.
• Target reported a quarterly EPS of $1.30, missing estimates by $0.35, with revenues of $24.20 billion, which is below the expected $24.54 billion.
• The company announced a quarterly dividend of $1.12, resulting in an annualized dividend yield of 4.5%, to be paid on September 1st.

Argent Trust Co lowered its holdings in Target Corporation (NYSE:TGT - Free Report) by 23.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,630 shares of the retailer's stock after selling 14,065 shares during the period. Argent Trust Co's holdings in Target were worth $4,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Brighton Jones LLC grew its position in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after purchasing an additional 3,059 shares during the period. Wellington Management Group LLP grew its position in shares of Target by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer's stock valued at $7,622,000 after purchasing an additional 6,253 shares during the period. OneAscent Financial Services LLC purchased a new stake in shares of Target in the fourth quarter valued at $226,000. World Investment Advisors grew its position in Target by 12.5% during the fourth quarter. World Investment Advisors now owns 7,408 shares of the retailer's stock valued at $1,001,000 after acquiring an additional 823 shares during the period. Finally, Arete Wealth Advisors LLC purchased a new stake in Target during the fourth quarter valued at about $378,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm'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 value of $4,328,100.00. Following the sale, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company's stock.

Target Stock Performance

Shares of Target stock traded up $2.03 on Tuesday, reaching $101.82. 1,572,477 shares of the company were exchanged, compared to its average volume of 6,952,507. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The company's 50-day moving average is $100.05 and its two-hundred day moving average is $106.75. The firm has a market cap of $46.26 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 2.85 and a beta of 1.22. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT - Get Free Report) last announced 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). The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 earnings per share. As a group, research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is presently 49.23%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research reports. Cfra Research downgraded Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. Bank of America downgraded Target from a "buy" rating to a "neutral" rating and lowered their price target for the company from $145.00 to $105.00 in a research report on Thursday, May 22nd. Wall Street Zen downgraded Target from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Robert W. Baird set a $100.00 price target on Target in a research report on Thursday, May 22nd. Finally, Loop Capital set a $95.00 price target on Target in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $115.65.

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.