DekaBank Deutsche Girozentrale Lowers Stake in Target Corporation (NYSE:TGT)

DekaBank Deutsche Girozentrale trimmed its stake in Target Corporation (NYSE:TGT - Free Report) by 20.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,620 shares of the retailer's stock after selling 61,074 shares during the period. DekaBank Deutsche Girozentrale owned about 0.05% of Target worth $23,547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TGT. Nicholas Company Inc. raised its position in shares of Target by 20.5% in the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer's stock worth $7,544,000 after acquiring an additional 9,485 shares in the last quarter. DSG Capital Advisors LLC grew its stake in Target by 16.1% during the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after purchasing an additional 21,726 shares during the period. Sierra Summit Advisors LLC increased its holdings in Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer's stock worth $1,940,000 after purchasing an additional 3,231 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Target in the fourth quarter worth approximately $6,459,000. Finally, Viking Fund Management LLC lifted its stake in Target by 20.0% in the first quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock valued at $6,262,000 after buying an additional 10,000 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Brian C. Cornell sold 45,000 shares of the company'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 owned 246,453 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company's stock.

Target Stock Up 2.3%

Shares of TGT traded up $2.40 during mid-day trading on Thursday, hitting $104.83. 5,102,332 shares of the company's stock were exchanged, compared to its average volume of 6,263,934. 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 company has a market cap of $47.63 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 2.92 and a beta of 1.22. The stock's 50-day moving average is $97.37 and its 200-day moving average is $111.16. 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 announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS 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 analyst estimates of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 earnings per share. On average, sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.27%. Target's dividend payout ratio (DPR) is presently 50.11%.

Analyst Upgrades and Downgrades

TGT has been the subject of several research reports. Citigroup reduced their target price on Target from $97.00 to $94.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Royal Bank Of Canada decreased their price objective on Target from $112.00 to $103.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Telsey Advisory Group set a $110.00 target price on Target and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Truist Financial lifted their price target on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley lowered their price objective on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $116.70.

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.