Buck Wealth Strategies LLC Makes New $1.06 Million Investment in Target Corporation (NYSE:TGT)

Buck Wealth Strategies LLC purchased a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,178 shares of the retailer's stock, valued at approximately $1,062,000.

Several other hedge funds and other institutional investors have also modified their holdings of TGT. Capital World Investors raised its stake in shares of Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after acquiring an additional 1,306,552 shares in the last quarter. FMR LLC raised its stake in shares of Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock valued at $1,532,769,000 after acquiring an additional 1,358,348 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Target by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer's stock valued at $1,332,317,000 after acquiring an additional 470,990 shares in the last quarter. Norges Bank acquired a new stake in shares of Target in the fourth quarter valued at $757,892,000. Finally, Northern Trust Corp raised its stake in shares of Target by 16.3% in the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock valued at $726,814,000 after acquiring an additional 754,883 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of NYSE TGT traded up $0.56 during midday trading on Friday, reaching $95.68. 9,617,603 shares of the company were exchanged, compared to its average volume of 6,188,032. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The stock has a fifty day simple moving average of $95.67 and a 200 day simple moving average of $113.80. The stock has a market cap of $43.47 billion, a P/E ratio of 10.51, a PEG ratio of 2.75 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period in the prior year, the business earned $2.03 earnings per share. Target's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 49.23%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TGT. Roth Mkm reiterated a "neutral" rating and issued a $122.00 price objective (down from $131.00) on shares of Target in a research note on Wednesday, March 5th. BMO Capital Markets cut their price target on Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Thursday, May 22nd. Robert W. Baird set a $100.00 price target on Target in a research note on Thursday, May 22nd. Cfra Research cut Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Wall Street Zen cut Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 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 stock. Based on data from MarketBeat, Target presently has an average rating of "Hold" and a consensus 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.