Target Corporation $TGT Position Boosted by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC increased its holdings in Target by 29.4%, acquiring an additional 41,180 shares, bringing total ownership to 181,390 shares valued at approximately $18.93 million.
• Target's recent earnings report showed a decline in revenue by 2.8% year-over-year with earnings per share of $1.30, falling short of the estimated $1.65.
• The company announced a quarterly dividend of $1.12 per share, with a dividend yield of 4.3% and a payout ratio of 50.11%.

Cresset Asset Management LLC grew its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 29.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,390 shares of the retailer's stock after buying an additional 41,180 shares during the period. Cresset Asset Management LLC's holdings in Target were worth $18,930,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bontempo Ohly Capital Mgmt LLC boosted its position in Target by 0.3% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock worth $3,875,000 after purchasing an additional 85 shares in the last quarter. Ancora Advisors LLC increased its holdings in shares of Target by 0.9% in the fourth quarter. Ancora Advisors LLC now owns 10,369 shares of the retailer's stock valued at $1,402,000 after purchasing an additional 92 shares during the last quarter. Hayek Kallen Investment Management increased its holdings in shares of Target by 0.7% in the fourth quarter. Hayek Kallen Investment Management now owns 13,278 shares of the retailer's stock valued at $1,795,000 after purchasing an additional 98 shares during the last quarter. Centaurus Financial Inc. increased its stake in Target by 2.7% during the fourth quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer's stock worth $514,000 after acquiring an additional 99 shares during the last quarter. Finally, Guardian Wealth Advisors LLC increased its stake in Target by 2.6% during the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock worth $422,000 after acquiring an additional 104 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Wells Fargo & Company decreased their target price on Target from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Barclays reaffirmed an "underweight" rating and set a $91.00 price target on shares of Target in a report on Monday, July 21st. Royal Bank Of Canada boosted their target price on Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Jefferies Financial Group reduced their target price on Target from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $113.55.

Target Trading Down 1.6%

Target stock traded down $1.6130 during midday trading on Thursday, reaching $97.0770. The stock had a trading volume of 11,380,132 shares, compared to its average volume of 7,108,632. The stock's 50-day simple moving average is $102.03 and its 200 day simple moving average is $104.36. The stock has a market capitalization of $44.11 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 3.04 and a beta of 1.22. Target Corporation has a twelve month low of $87.35 and a twelve month high of $161.84. 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 issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. Target had a return on equity of 25.59% and a net margin of 3.95%.The company had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The firm's quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is currently 50.11%.

Target 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.