Ballentine Partners LLC Has $899,000 Stake in Target Corporation (NYSE:TGT)

Ballentine Partners LLC trimmed its position in shares of Target Corporation (NYSE:TGT - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,611 shares of the retailer's stock after selling 2,748 shares during the quarter. Ballentine Partners LLC's holdings in Target were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in Target in the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC lifted its holdings in 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 purchasing an additional 85 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Target in the 4th quarter worth approximately $40,000. Bellwether Advisors LLC acquired a new stake in Target in the 4th quarter worth approximately $47,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Target in the 4th quarter worth approximately $49,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

Shares of NYSE:TGT opened at $104.26 on Monday. The business's fifty day moving average price is $97.69 and its two-hundred day moving average price is $110.45. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The stock has a market capitalization of $47.37 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25.

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 during the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business's revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $2.03 earnings per share. As a group, analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is presently 49.23%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TGT. Bank of America lowered Target from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $145.00 to $105.00 in a report on Thursday, May 22nd. Wall Street Zen lowered Target from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. The Goldman Sachs Group cut their price target on Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Barclays initiated coverage on Target in a report on Thursday, May 22nd. They set an "equal weight" rating for the company. Finally, Evercore ISI cut their price target on Target from $130.00 to $120.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $116.70.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction 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 sale, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company's stock.

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.

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