Cullen Frost Bankers Inc. Has $813,000 Stake in Target Corporation (NYSE:TGT)

Cullen Frost Bankers Inc. lessened its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 60.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,790 shares of the retailer's stock after selling 12,075 shares during the period. Cullen Frost Bankers Inc.'s holdings in Target were worth $813,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new position in shares of Target in the 4th quarter worth about $29,000. Legacy Investment Solutions LLC raised its position in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after buying an additional 85 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Target in the 4th quarter worth about $40,000. Atwood & Palmer Inc. raised its position in Target by 951.4% in the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after buying an additional 352 shares during the last quarter. Finally, Abound Financial LLC purchased a new position in Target in the 1st quarter worth about $43,000. Institutional investors own 79.73% of the company's stock.

Target Stock Performance

TGT traded down $0.25 during trading hours on Friday, hitting $103.40. The company's stock had a trading volume of 5,280,800 shares, compared to its average volume of 6,311,661. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. 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 firm has a market capitalization of $46.98 billion, a PE ratio of 11.36, a PEG ratio of 2.96 and a beta of 1.22. The company has a 50-day simple moving average of $98.47 and a 200 day simple moving average of $109.31.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) 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 business had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. During the same quarter in the previous year, the company earned $2.03 EPS. Target's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 49.23%.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target 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 sale, the insider directly owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TGT. Wall Street Zen downgraded Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Mizuho cut their price target on Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Cfra Research downgraded Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. BMO Capital Markets cut their price objective on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Thursday, May 22nd. Finally, Truist Financial boosted their price objective on Target from $82.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $116.00.

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.