Core Alternative Capital Reduces Stock Position in Target Corporation (NYSE:TGT)

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

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in shares of Target by 15.8% in the 1st quarter. Concurrent Investment Advisors LLC now owns 39,100 shares of the retailer's stock worth $4,080,000 after buying an additional 5,340 shares during the last quarter. World Investment Advisors lifted its holdings in Target by 29.5% in the first quarter. World Investment Advisors now owns 9,595 shares of the retailer's stock valued at $1,001,000 after acquiring an additional 2,187 shares during the period. Wayfinding Financial LLC bought a new position in Target in the first quarter valued at about $95,000. Strategic Blueprint LLC boosted its position in Target by 7.7% in the first quarter. Strategic Blueprint LLC now owns 2,924 shares of the retailer's stock worth $305,000 after purchasing an additional 208 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its stake in shares of Target by 9.7% during the 1st quarter. IFM Investors Pty Ltd now owns 96,388 shares of the retailer's stock valued at $10,059,000 after purchasing an additional 8,529 shares during the period. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

TGT has been the topic of several recent research reports. Bank of America cut shares of Target from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $145.00 to $105.00 in a research note on Thursday, May 22nd. Piper Sandler set a $94.00 price target on shares of Target and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group dropped their price target on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on Target in a research note on Thursday, May 22nd. Finally, Guggenheim lowered their target price on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Target currently has an average rating of "Hold" and an average price target of $116.70.

Target Stock Performance

TGT opened at $104.17 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. 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. The company has a fifty day moving average of $97.05 and a 200 day moving average of $111.62. 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 issued its quarterly earnings data 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). 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 analysts' expectations of $24.54 billion. During the same quarter in the previous year, the business earned $2.03 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Target Corporation will post 8.69 earnings per share 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 paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is 49.23%.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider directly owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is 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.

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