Target Corporation (NYSE:TGT) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its position in shares of Target Corporation (NYSE:TGT - Free Report) by 20.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,620 shares of the retailer's stock after selling 61,074 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.05% of Target worth $23,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Capital World Investors increased its position in shares of Target by 6.3% during the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares during the last quarter. FMR LLC increased its position in shares of Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock valued at $1,532,769,000 after purchasing an additional 1,358,348 shares during the last quarter. Geode Capital Management LLC increased its position 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 valued at $1,332,317,000 after purchasing an additional 470,990 shares during the last quarter. Norges Bank bought a new position in shares of Target during the 4th quarter valued at approximately $757,892,000. Finally, Northern Trust Corp grew its position in 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 acquiring an additional 754,883 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of Target stock traded down $0.48 on Friday, reaching $104.26. 3,863,821 shares of the stock were exchanged, compared to its average volume of 6,269,118. 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 Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The firm has a market capitalization of $47.37 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 3.00 and a beta of 1.22. The business has a 50 day moving average price of $97.69 and a two-hundred day moving average price of $110.78.

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). 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 revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.03 earnings per share. Analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is 49.23%.

Analysts Set New Price Targets

TGT has been the topic of several research analyst reports. Royal Bank Of Canada cut their price objective on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Mizuho dropped their price target on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Guggenheim dropped their price target on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. BMO Capital Markets dropped their price target on Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research report on Thursday, May 22nd. Finally, Morgan Stanley dropped their price target on Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $116.70.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business's 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 directly owned 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

About Target

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.