Crossmark Global Holdings Inc. Grows Position in Target Corporation (NYSE:TGT)

Crossmark Global Holdings Inc. lifted its stake in Target Corporation (NYSE:TGT - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,418 shares of the retailer's stock after acquiring an additional 5,941 shares during the period. Crossmark Global Holdings Inc.'s holdings in Target were worth $8,392,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Security National Bank of SO Dak grew its holdings in shares of Target by 2.9% during the 1st quarter. Security National Bank of SO Dak now owns 14,050 shares of the retailer's stock worth $1,466,000 after purchasing an additional 400 shares in the last quarter. Financial Counselors Inc. raised its position in Target by 5.2% in the 1st quarter. Financial Counselors Inc. now owns 136,528 shares of the retailer's stock valued at $14,248,000 after purchasing an additional 6,770 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Target during the first quarter worth $104,000. Concurrent Investment Advisors LLC raised its position in shares of Target by 15.8% during the first quarter. Concurrent Investment Advisors LLC now owns 39,100 shares of the retailer's stock worth $4,080,000 after acquiring an additional 5,340 shares during the last quarter. Finally, World Investment Advisors increased 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 purchasing an additional 2,187 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TGT shares. Robert W. Baird set a $100.00 target price on Target in a research note on Thursday, May 22nd. Truist Financial increased their price target on Target from $82.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada dropped their price objective on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Finally, Barclays began coverage on Target in a research note on Thursday, May 22nd. They set an "equal weight" rating on the stock. One 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. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $116.70.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 of the company's stock, valued at approximately $23,703,849.54. This 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 currently owned by corporate insiders.

Target Stock Performance

TGT traded up $0.63 during trading hours on Wednesday, hitting $102.64. The stock had a trading volume of 4,307,975 shares, compared to its average volume of 6,268,526. The company's fifty day simple moving average is $97.26 and its 200 day simple moving average is $111.22. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The stock has a market cap of $46.64 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.92 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT - Get Free Report) last posted its 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 analysts' expectations of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.03 EPS. Equities analysts anticipate 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 paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.36%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is currently 49.23%.

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.