Core Alternative Capital Trims Stock Holdings in Target Corporation (NYSE:TGT)

Core Alternative Capital reduced its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 8.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 27,590 shares of the retailer's stock after selling 2,630 shares during the period. Core Alternative Capital's holdings in Target were worth $2,879,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital World Investors grew its holdings in Target by 6.3% during the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock worth $2,964,565,000 after acquiring an additional 1,306,552 shares during the period. FMR LLC grew 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 purchasing an additional 1,358,348 shares during the period. Geode Capital Management LLC grew its stake in shares of Target by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer's stock worth $1,332,317,000 after purchasing an additional 470,990 shares during the period. Norges Bank purchased a new position in shares of Target during the 4th quarter valued at approximately $757,892,000. Finally, Northern Trust Corp lifted its stake in shares of Target by 16.3% in the 4th quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock valued at $726,814,000 after purchasing an additional 754,883 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Trading Down 1.2%

NYSE TGT traded down $1.29 on Friday, reaching $104.17. 3,535,290 shares of the company were exchanged, compared to its average volume of 6,261,343. 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 fifty day moving average price is $97.05 and its 200 day moving average price is $111.62. The stock has a market capitalization of $47.33 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 2.98 and a beta of 1.22. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week 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 the consensus estimate of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period in the previous year, the firm posted $2.03 EPS. The company's revenue was down 2.8% compared to the same quarter last year. Analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company 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 $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.30%. Target's payout ratio is 49.23%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Robert W. Baird set a $100.00 price target on shares of Target in a research report on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price target on Target and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Sanford C. Bernstein lowered Target from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $97.00 to $82.00 in a report on Monday, May 12th. Barclays assumed coverage on Target in a research note on Thursday, May 22nd. They set an "equal weight" rating for the company. Finally, Royal Bank Of Canada dropped their price target on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $116.70.

Insider Buying and Selling at Target

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

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.