Chevy Chase Trust Holdings LLC decreased its position in shares of Target Corporation (NYSE:TGT - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 301,242 shares of the retailer's stock after selling 3,151 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.07% of Target worth $31,438,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in Target in the fourth quarter valued at about $29,000. Bernard Wealth Management Corp. bought a new position in shares of Target during the 4th quarter valued at about $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 purchasing an additional 85 shares during the period. OFI Invest Asset Management bought a new stake in Target during the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Target during the 4th quarter worth approximately $40,000. Institutional investors own 79.73% of the company's stock.
Analysts Set New Price Targets
TGT has been the subject of several research analyst reports. Oppenheimer reduced their price target on shares of Target from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Evercore ISI reduced their target price on shares of Target from $130.00 to $120.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. BMO Capital Markets dropped 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. Guggenheim cut their price target on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Finally, Cfra Research downgraded Target from a "moderate buy" rating to a "hold" rating in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Target currently has an average rating of "Hold" and a consensus target price of $116.70.
Check Out Our Latest Analysis on TGT
Insider Transactions at Target
In other Target 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 owns 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company's stock.
Target Stock Performance
Shares of TGT traded up $0.94 during trading hours on Thursday, hitting $97.64. The company had a trading volume of 5,312,926 shares, compared to its average volume of 6,201,259. The business has a fifty day moving average of $95.95 and a 200-day moving average of $113.32. 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 firm has a market cap of $44.36 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 2.81 and a beta of 1.22. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40.
Target (NYSE:TGT - Get Free Report) last issued 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 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 quarter last year, the business earned $2.03 earnings per share. The company's revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.
Target Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is 49.23%.
Target Company Profile
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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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