Concurrent Investment Advisors LLC Raises Position in Target Corporation (NYSE:TGT)

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

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Capital World Investors boosted its position in shares of Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock worth $2,964,565,000 after buying an additional 1,306,552 shares during the period. FMR LLC boosted its position in shares of Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after buying an additional 1,358,348 shares during the period. Geode Capital Management LLC boosted its position in shares of Target by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer's stock worth $1,332,317,000 after buying an additional 470,990 shares during the period. Norges Bank purchased a new stake in shares of Target in the fourth quarter worth about $757,892,000. Finally, Northern Trust Corp boosted its position in shares of Target by 16.3% in the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock worth $726,814,000 after buying an additional 754,883 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the firm's 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 directly owned 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Target Stock Down 1.2%

Shares of Target stock opened at $104.17 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The business's 50 day simple moving average is $97.05 and its 200-day simple moving average is $111.62. The stock has a market capitalization of $47.33 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.98 and a beta of 1.22. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40.

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

Target Announces Dividend

The firm 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. This represents a $4.48 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is currently 49.23%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Mizuho cut their price target on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Truist Financial boosted their price target on Target from $82.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein cut 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 research note on Monday, May 12th. Bank of America cut Target from a "buy" rating to a "neutral" rating and cut their price target for the stock from $145.00 to $105.00 in a research note on Thursday, May 22nd. Finally, Wall Street Zen cut Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $116.70.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.