Target Corporation (NYSE:TGT) Shares Acquired by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. grew its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 75.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,795 shares of the retailer's stock after purchasing an additional 3,356 shares during the period. Confluence Wealth Services Inc.'s holdings in Target were worth $813,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Norges Bank acquired a new position in Target during the 4th quarter worth approximately $757,892,000. Raymond James Financial Inc. purchased a new stake in shares of Target during the 4th quarter worth approximately $297,122,000. Ameriprise Financial Inc. boosted its stake 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 worth $536,407,000 after acquiring an additional 1,506,275 shares in the last quarter. FMR LLC boosted its stake in shares of Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after acquiring an additional 1,358,348 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Target during the 4th quarter worth approximately $182,882,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Trading Up 1.8%

Shares of Target stock traded up $1.78 during trading hours on Friday, reaching $99.38. 6,375,336 shares of the company's stock were exchanged, compared to its average volume of 6,206,589. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The firm has a market capitalization of $45.16 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.22. The company has a fifty day moving average of $96.16 and a 200-day moving average of $112.65. 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 (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The firm 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 company's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.03 earnings per share. Sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.51%. Target's payout ratio is 49.23%.

Insider Transactions 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 value of $4,328,100.00. Following the completion of the sale, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TGT. Robert W. Baird set a $100.00 price target on Target in a research note on Thursday, May 22nd. Roth Mkm reissued a "neutral" rating and set a $122.00 price target (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. DA Davidson decreased their price target on Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Royal Bank Of Canada decreased their price target on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $116.70.

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.