Target Corporation (NYSE:TGT) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC trimmed its position in shares of Target Corporation (NYSE:TGT - Free Report) by 46.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,041 shares of the retailer's stock after selling 88,156 shares during the period. Calamos Advisors LLC's holdings in Target were worth $10,440,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Target in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Target in the 4th quarter valued at $29,000. Legacy Investment Solutions LLC grew its position in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Target in the 4th quarter valued at $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Target during the 4th quarter worth $40,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Price Performance

NYSE TGT traded down $1.29 during mid-day trading on Friday, hitting $104.17. The stock had a trading volume of 3,535,290 shares, compared to its average volume of 6,250,547. The company has a market cap of $47.33 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 2.98 and a beta of 1.22. 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 Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The company has a 50 day simple moving average of $97.05 and a 200 day simple moving average of $111.76.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 25.59% and a net margin of 3.95%. The business had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. During the same period last year, the business earned $2.03 earnings per share. The company's revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TGT shares. Guggenheim decreased their price objective on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Piper Sandler set a $94.00 price target on Target and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Bank of America cut Target from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $145.00 to $105.00 in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Target from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, DA Davidson reduced their price target on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $116.70.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider directly owned 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

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.