Fifth Third Bancorp Has $4.43 Million Stock Holdings in Target Corporation (NYSE:TGT)

Fifth Third Bancorp cut its stake in Target Corporation (NYSE:TGT - Free Report) by 20.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,485 shares of the retailer's stock after selling 10,730 shares during the period. Fifth Third Bancorp's holdings in Target were worth $4,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TGT. Horrell Capital Management Inc. raised its position in Target by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer's stock worth $3,603,000 after purchasing an additional 76 shares during the last quarter. Fiducient Advisors LLC raised its position in shares of Target by 4.6% during the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock worth $240,000 after acquiring an additional 78 shares during the last quarter. Napatree Capital LLC lifted its stake in shares of Target by 2.4% during the fourth quarter. Napatree Capital LLC now owns 3,609 shares of the retailer's stock valued at $488,000 after acquiring an additional 85 shares during the period. Legacy Investment Solutions LLC lifted its stake in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after acquiring an additional 85 shares during the period. Finally, Bontempo Ohly Capital Mgmt LLC boosted its holdings in Target by 0.3% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock valued at $3,875,000 after acquiring an additional 85 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on TGT shares. Robert W. Baird set a $100.00 target price on shares of Target in a research report on Thursday, May 22nd. Guggenheim dropped 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. JPMorgan Chase & Co. increased their price objective on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Mizuho lowered their target price on shares of Target from $92.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Finally, DA Davidson cut their price target on Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $116.70.

Insider Transactions at Target

In other Target 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 transaction, the insider now owns 246,453 shares of the company's stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company's stock.

Target Stock Down 2.3%

Shares of TGT traded down $2.19 during midday trading on Tuesday, hitting $95.18. The stock had a trading volume of 7,187,400 shares, compared to its average volume of 6,144,167. The firm has a market cap of $43.24 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 2.80 and a beta of 1.22. The company has a 50 day simple moving average of $95.61 and a two-hundred day simple moving average of $114.64. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 earnings per share. On average, analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders 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 annualized dividend and a yield of 4.71%. Target's dividend payout ratio (DPR) is presently 49.23%.

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.