Balboa Wealth Partners Lowers Holdings in Target Corporation (NYSE:TGT)

Balboa Wealth Partners cut its position in shares of Target Corporation (NYSE:TGT - Free Report) by 83.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,050 shares of the retailer's stock after selling 15,778 shares during the period. Balboa Wealth Partners' holdings in Target were worth $318,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TGT. Brighton Jones LLC lifted its holdings in Target by 101.3% during 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 in the last quarter. Howard Capital Management Inc. lifted its holdings in Target by 8.1% during the fourth quarter. Howard Capital Management Inc. now owns 3,084 shares of the retailer's stock valued at $417,000 after purchasing an additional 230 shares in the last quarter. MONECO Advisors LLC lifted its holdings in Target by 8.1% during the fourth quarter. MONECO Advisors LLC now owns 2,536 shares of the retailer's stock valued at $343,000 after purchasing an additional 189 shares in the last quarter. IFP Advisors Inc lifted its holdings in Target by 20.7% during the fourth quarter. IFP Advisors Inc now owns 4,702 shares of the retailer's stock valued at $636,000 after purchasing an additional 805 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its holdings in Target by 4.0% during the fourth quarter. Crestwood Advisors Group LLC now owns 11,713 shares of the retailer's stock valued at $1,583,000 after purchasing an additional 446 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 1.8%

Shares of TGT traded up $1.78 during trading on Friday, reaching $99.38. 6,375,336 shares of the company traded hands, compared to its average volume of 6,206,589. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The stock has a market cap of $45.16 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.22. The stock has a 50-day simple moving average of $96.16 and a 200-day simple moving average of $112.65. 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 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). Target had a net margin of 3.95% and a return on equity of 25.59%. The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. Target's revenue was down 2.8% on a year-over-year basis. On average, analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is presently 49.23%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 now directly owns 246,453 shares in the company, 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 at the SEC website. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TGT. Truist Financial increased their target price on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, May 22nd. Wells Fargo & Company reduced their target price on shares of Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. UBS Group reduced their target price on shares of Target from $170.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group reduced their target price on shares of Target from $101.00 to $90.00 and set a "neutral" rating for the company 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $116.70.

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.