Arkadios Wealth Advisors Acquires 8,737 Shares of Target Corporation (NYSE:TGT)

Key Points

• Arkadios Wealth Advisors increased its position in Target Corporation (TGT) by 53.8%, acquiring an additional 8,737 shares, bringing their total holdings to nearly 25,000 shares valued at approximately $2.61 million.
• Target's financial performance showed a decline in earnings, reporting $1.30 EPS for the last quarter, which fell short of the $1.65 consensus estimate, along with a 2.8% year-over-year drop in revenue.
• The company announced a quarterly dividend of $1.12, set to be paid on September 1st, which translates to an annualized dividend yield of 4.5%.

Arkadios Wealth Advisors boosted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 53.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 24,963 shares of the retailer's stock after purchasing an additional 8,737 shares during the quarter. Arkadios Wealth Advisors' holdings in Target were worth $2,605,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Target during the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC raised its position in shares of Target by 47.5% during 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 last quarter. Heck Capital Advisors LLC purchased a new position 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% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after purchasing an additional 352 shares during the last quarter. Finally, Abound Financial LLC bought a new position in Target in the first quarter worth about $43,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TGT. The Goldman Sachs Group decreased 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. Royal Bank Of Canada lowered their target price on Target from $112.00 to $103.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Barclays reiterated an "underweight" rating and issued a $91.00 price objective on shares of Target in a research note on Monday, July 21st. Piper Sandler restated a "neutral" rating on shares of Target in a research note on Tuesday. Finally, Telsey Advisory Group set a $110.00 price target on Target and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Target presently has an average rating of "Hold" and an average price target of $115.65.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction 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 transaction, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company's stock.

Target Price Performance

Shares of TGT opened at $100.58 on Friday. The firm has a market cap of $45.70 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 2.95 and a beta of 1.22. The stock has a 50 day moving average of $99.83 and a 200-day moving average of $107.61. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target Corporation has a 52 week low of $87.35 and a 52 week 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 (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the business posted $2.03 EPS. As a group, analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is currently 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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