Target Corporation (NYSE:TGT) Shares Sold by Asset Dedication LLC

Asset Dedication LLC cut its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 71.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,355 shares of the retailer's stock after selling 3,377 shares during the quarter. Asset Dedication LLC's holdings in Target were worth $141,000 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. acquired a new position in shares of Target during the 4th quarter worth $30,000. Legacy Investment Solutions LLC boosted its position in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after buying an additional 85 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Target in the 4th quarter worth about $40,000. Bellwether Advisors LLC purchased a new stake in shares of Target in the 4th quarter worth about $47,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Target in the 4th quarter worth about $49,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Down 1.3%

TGT traded down $1.36 on Tuesday, reaching $103.51. 1,074,816 shares of the company's stock were exchanged, compared to its average volume of 7,173,408. The company's 50 day moving average is $97.91 and its 200-day moving average is $110.24. The company has a market cap of $47.03 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.98 and a beta of 1.22. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The business 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 period last year, the company posted $2.03 EPS. Equities analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.33%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is 49.23%.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler set a $94.00 price objective on shares of Target and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. BMO Capital Markets decreased their price objective on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research report on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price objective on shares of Target and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Sanford C. Bernstein lowered shares of Target from a "market perform" rating to an "underperform" rating and decreased their price objective for the stock from $97.00 to $82.00 in a research report on Monday, May 12th. Finally, Citigroup reduced their target price on shares of Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $116.70.

Target 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.