Elevation Point Wealth Partners LLC lifted its stake in shares of Target Co. (NYSE:TGT - Free Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,192 shares of the retailer's stock after acquiring an additional 3,376 shares during the period. Elevation Point Wealth Partners LLC's holdings in Target were worth $3,046,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Target during the fourth quarter worth $757,892,000. Raymond James Financial Inc. acquired a new position in Target during the fourth quarter worth $297,122,000. Ameriprise Financial Inc. boosted its holdings in Target by 61.2% during the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after purchasing an additional 1,506,275 shares during the last quarter. FMR LLC boosted its holdings in Target by 13.6% during the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after purchasing an additional 1,358,348 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Target during the fourth quarter worth $182,882,000. Institutional investors own 79.73% of the company's stock.
Target Stock Performance
Target stock traded down $4.04 during midday trading on Friday, hitting $95.25. The company's stock had a trading volume of 7,297,011 shares, compared to its average volume of 6,130,221. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a 50-day moving average price of $95.48 and a two-hundred day moving average price of $115.13. The company has a market cap of $43.28 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.94 and a beta of 1.22.
Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the prior year, the business earned $2.03 earnings per share. Target's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Target Co. will post 8.69 earnings per share for the current year.
Target Announces Dividend
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 issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is currently 50.11%.
Insider Buying and Selling at Target
In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider now directly owns 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on TGT shares. Baird R W cut shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Roth Capital set a $122.00 price target on shares of Target in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Guggenheim cut their price target on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Finally, Barclays assumed coverage on shares of Target in a research note on Thursday, May 22nd. They issued an "equal weight" rating for the company. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $116.70.
Read Our Latest Research Report on Target
Target Profile
(
Free Report)
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.
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