Target Corporation (NYSE:TGT) Shares Bought by Chapin Davis Inc.

Chapin Davis Inc. lifted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 64.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,507 shares of the retailer's stock after purchasing an additional 3,342 shares during the quarter. Chapin Davis Inc.'s holdings in Target were worth $888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Continuum Advisory LLC increased its position in shares of Target by 202.7% during the first quarter. Continuum Advisory LLC now owns 557 shares of the retailer's stock valued at $58,000 after buying an additional 373 shares during the period. Shariaportfolio Inc. increased its holdings in Target by 27.7% during the 1st quarter. Shariaportfolio Inc. now owns 17,929 shares of the retailer's stock worth $1,871,000 after acquiring an additional 3,892 shares during the period. Park Capital Management LLC WI increased its holdings in shares of Target by 1.9% in the first quarter. Park Capital Management LLC WI now owns 7,140 shares of the retailer's stock worth $745,000 after purchasing an additional 131 shares during the period. Stiles Financial Services Inc increased its holdings in shares of Target by 8.1% in the first quarter. Stiles Financial Services Inc now owns 27,762 shares of the retailer's stock worth $2,898,000 after purchasing an additional 2,077 shares during the period. Finally, Jmac Enterprises LLC bought a new position in shares of Target in the first quarter worth $219,000. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research analyst reports. Baird R W lowered shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Oppenheimer reduced their price objective on Target from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Sanford C. Bernstein lowered shares of Target from a "market perform" rating to an "underperform" rating and cut their price target for the stock from $97.00 to $82.00 in a report on Monday, May 12th. The Goldman Sachs Group cut their price objective on Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research note 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. Based on data from MarketBeat, Target presently has a consensus rating of "Hold" and a consensus target price of $116.70.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by company insiders.

Target Price Performance

Shares of Target stock traded up $0.94 during trading hours on Thursday, reaching $97.64. The company's stock had a trading volume of 5,312,926 shares, compared to its average volume of 6,216,277. The firm has a 50 day moving average price of $96.04 and a 200-day moving average price of $113.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. Target Corporation has a one year low of $87.35 and a one year high of $167.40. The stock has a market cap of $44.36 billion, a P/E ratio of 10.73, a P/E/G ratio of 2.78 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 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 earnings per share. On average, analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.59%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is 49.23%.

About Target

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.