Chapin Davis Inc. increased its stake in Target Corporation (NYSE:TGT - Free Report) by 64.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,507 shares of the retailer's stock after buying an additional 3,342 shares during the period. Chapin Davis Inc.'s holdings in Target were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Hopwood Financial Services Inc. purchased a new stake in shares of Target in the fourth quarter worth $29,000. Bernard Wealth Management Corp. bought a new position in Target in the 4th quarter worth about $29,000. Legacy Investment Solutions LLC grew its position in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. OFI Invest Asset Management bought a new stake in Target during the 4th quarter valued at about $36,000. Finally, Heck Capital Advisors LLC purchased a new position in Target in the fourth quarter worth about $40,000. Institutional investors own 79.73% of the company's stock.
Analyst Upgrades and Downgrades
TGT has been the subject of several analyst reports. Citigroup reduced their price target on shares of Target from $97.00 to $94.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Baird R W lowered Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Truist Financial upped their price target on Target from $82.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, May 22nd. KGI Securities set a $132.00 price objective on Target in a research report on Wednesday, March 5th. Finally, Guggenheim decreased their target price on Target from $155.00 to $115.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $116.70.
Read Our Latest Report on Target
Target Stock Up 0.6%
Shares of TGT opened at $95.68 on Monday. The business's 50 day moving average is $95.67 and its 200 day moving average is $113.80. 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 12-month low of $87.35 and a 12-month high of $167.40. The company has a market capitalization of $43.47 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 2.75 and a beta of 1.22.
Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (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 company had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the previous year, the business earned $2.03 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. Research analysts expect 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. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.68%. Target's dividend payout ratio is currently 49.23%.
Insider Activity at Target
In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider now owns 246,453 shares of the company's stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.
Target Company Profile
(
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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