First Horizon Advisors Inc. Cuts Stock Position in Target Corporation (NYSE:TGT)

First Horizon Advisors Inc. decreased its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 22.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,418 shares of the retailer's stock after selling 3,053 shares during the quarter. First Horizon Advisors Inc.'s holdings in Target were worth $1,087,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Target during the 4th quarter valued at about $757,892,000. Raymond James Financial Inc. bought a new stake in Target during the fourth quarter worth approximately $297,122,000. Ameriprise Financial Inc. raised its position in Target by 61.2% during the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after purchasing an additional 1,506,275 shares during the period. FMR LLC lifted its stake in shares of Target by 13.6% in 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. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of Target in the 4th quarter valued at approximately $182,882,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Target Trading Down 1.2%

Shares of NYSE:TGT opened at $104.17 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40. The business has a 50 day moving average of $97.05 and a two-hundred day moving average of $111.76. The company has a market capitalization of $47.33 billion, a PE ratio of 11.45, a PEG ratio of 2.98 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. Target's revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $2.03 earnings per share. As a group, analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued 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 dividend payout ratio is currently 49.23%.

Wall Street Analyst Weigh In

TGT has been the subject of several recent analyst reports. Mizuho dropped their price objective on shares of Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Morgan Stanley lowered their target price on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company dropped their price target on shares of Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. BMO Capital Markets reduced their price objective on shares of 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, Guggenheim dropped their target price on Target from $155.00 to $115.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $116.70.

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.

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