Concurrent Investment Advisors LLC Boosts Stake in Target Corporation (NYSE:TGT)

Concurrent Investment Advisors LLC grew its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 15.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,100 shares of the retailer's stock after purchasing an additional 5,340 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Target were worth $4,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TGT. Norges Bank purchased a new stake in Target during the fourth quarter valued at approximately $757,892,000. Ameriprise Financial Inc. grew its position in shares of Target by 61.2% during the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after acquiring an additional 1,506,275 shares during the period. FMR LLC grew its position in shares of Target by 13.6% during the 4th 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 during the period. Castlekeep Investment Advisors LLC purchased a new stake in shares of Target in the 4th quarter worth $182,882,000. Finally, Capital World Investors raised its holdings in Target by 6.3% in the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock worth $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. Institutional investors own 79.73% of the company's stock.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction 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 sale, the insider 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial boosted 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. Guggenheim lowered their price objective on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Telsey Advisory Group set a $110.00 price objective on Target and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Baird R W lowered shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, Wells Fargo & Company lowered their price target on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Target currently has a consensus rating of "Hold" and a consensus target price of $116.70.

Target Price Performance

TGT stock traded down $1.29 during trading on Friday, hitting $104.17. 3,535,290 shares of the company's stock traded hands, compared to its average volume of 6,261,343. Target Corporation has a 52 week low of $87.35 and a 52 week high of $167.40. The stock has a market capitalization 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 business has a fifty day simple moving average of $97.05 and a 200 day simple moving average of $111.62. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT - Get Free Report) last announced its earnings results 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). The business had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 earnings per share. As a group, research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a $1.12 dividend. 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 dividend payout ratio (DPR) is 49.23%.

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.