Bessemer Group Inc. lowered its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 501,220 shares of the retailer's stock after selling 27,957 shares during the quarter. Bessemer Group Inc. owned 0.11% of Target worth $52,306,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bernard Wealth Management Corp. bought a new position in shares of Target during the 4th quarter valued at approximately $30,000. Hopwood Financial Services Inc. purchased a new position in Target during the fourth quarter worth $29,000. Legacy Investment Solutions LLC boosted its stake in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after buying an additional 85 shares during the period. OFI Invest Asset Management bought a new position in Target during the fourth quarter valued at $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Target in the fourth quarter valued at $40,000. 79.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on TGT shares. Roth Mkm reaffirmed a "neutral" rating and set a $122.00 price target (down from $131.00) on shares of Target in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their target price on Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Royal Bank Of Canada cut their target price on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group dropped their price objective on Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. One 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $116.70.
View Our Latest Stock Analysis on TGT
Insiders Place Their Bets
In other news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction dated 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 now owns 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was 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 accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.
Target Stock Up 1.8%
Shares of NYSE TGT traded up $1.78 during mid-day trading on Friday, reaching $99.38. 6,375,336 shares of the company were exchanged, compared to its average volume of 6,232,742. The firm has a 50-day moving average of $96.04 and a 200 day moving average of $113.06. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The stock has a market cap of $45.16 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 2.81 and a beta of 1.22.
Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts expect that Target Corporation will post 8.69 earnings per share for the current year.
Target Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.51%. Target's dividend payout ratio (DPR) is 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.
Further Reading
Before you consider Target, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Target wasn't on the list.
While Target currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
