Focused Investors LLC Has $68.22 Million Stock Holdings in Target Corporation (NYSE:TGT)

Focused Investors LLC decreased its stake in Target Corporation (NYSE:TGT - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 653,700 shares of the retailer's stock after selling 16,500 shares during the quarter. Target accounts for about 2.2% of Focused Investors LLC's portfolio, making the stock its 23rd largest position. Focused Investors LLC owned approximately 0.14% of Target worth $68,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. acquired a new stake in shares of Target during the fourth quarter worth about $30,000. Legacy Investment Solutions LLC raised its position in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Target during the fourth quarter worth about $40,000. Bellwether Advisors LLC acquired a new stake in shares of Target during the fourth quarter worth about $47,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Target during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TGT shares. 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. Wall Street Zen lowered Target from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Truist Financial raised their price target on Target from $82.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley decreased their price objective on Target from $160.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, Bank of America downgraded Target from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $145.00 to $105.00 in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have issued 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 $116.00.

Target Stock Performance

Shares of NYSE TGT traded up $2.41 during midday trading on Thursday, hitting $103.75. 4,525,798 shares of the company's stock were exchanged, compared to its average volume of 6,289,448. 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 12 month low of $87.35 and a 12 month high of $167.40. The company's 50 day moving average price is $98.33 and its 200 day moving average price is $109.90. The firm has a market capitalization of $47.14 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 2.90 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last released 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 firm 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 revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.03 earnings per share. As a group, analysts predict 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 issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.32%. Target's payout ratio is currently 49.23%.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of Target 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 of the company's stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

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.