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Banque Cantonale Vaudoise Takes $2.58 Million Position in Target Corporation (NYSE:TGT)

Target logo with Retail/Wholesale background

Key Points

  • Banque Cantonale Vaudoise acquired a new stake in Target Corporation, purchasing 24,677 shares valued at approximately $2.58 million during the first quarter.
  • Several institutional investors increased their positions in Target, with Pacer Advisors Inc. growing its holdings by over 1,364%, now owning approximately 3.29 million shares worth $343.3 million.
  • Target recently announced a quarterly dividend of $1.12 per share, to be paid on September 1st, resulting in an annualized dividend yield of 4.30%.
  • Interested in Target? Here are five stocks we like better.

Banque Cantonale Vaudoise acquired a new stake in Target Corporation (NYSE:TGT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 24,677 shares of the retailer's stock, valued at approximately $2,575,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fiducient Advisors LLC increased its holdings in Target by 4.6% during the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock worth $240,000 after buying an additional 78 shares during the last quarter. Legacy Investment Solutions LLC increased its stake in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC increased its stake in shares of Target by 0.3% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock worth $3,875,000 after purchasing an additional 85 shares in the last quarter. Anchor Investment Management LLC boosted its position in shares of Target by 1.7% in the fourth quarter. Anchor Investment Management LLC now owns 5,471 shares of the retailer's stock valued at $740,000 after acquiring an additional 92 shares during the period. Finally, Ancora Advisors LLC boosted its position in shares of Target by 0.9% in the fourth quarter. Ancora Advisors LLC now owns 10,369 shares of the retailer's stock valued at $1,402,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction on 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 sale, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TGT. Wall Street Zen lowered shares of Target from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Royal Bank Of Canada dropped their target price on shares of Target from $112.00 to $103.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Piper Sandler reiterated a "neutral" rating on shares of Target in a research report on Tuesday. The Goldman Sachs Group dropped 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. Finally, Truist Financial lifted 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. Two investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $115.65.

Get Our Latest Stock Analysis on Target

Target Trading Down 0.7%

Target stock traded down $0.75 during mid-day trading on Friday, reaching $99.75. 5,020,123 shares of the company traded hands, compared to its average volume of 4,692,105. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The firm's 50 day moving average price is $99.83 and its 200 day moving average price is $107.61. The firm has a market capitalization of $45.32 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 2.87 and a beta of 1.22. 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 issued its quarterly earnings data 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 company had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. On average, analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business 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 dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is presently 49.23%.

About Target

(Free Report)

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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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