Foster & Motley Inc. Has $3.99 Million Stock Holdings in Target Corporation (NYSE:TGT)

Key Points

• Foster & Motley Inc. increased its holdings in Target Corporation by 17.7%, now owning 38,207 shares valued at approximately $3.99 million.
• Target's quarterly earnings reported an EPS of $1.30, missing estimates by $0.35, with a revenue decline of 2.8% year-over-year.
• Target announced a quarterly dividend of $1.12 per share, reflecting an annualized yield of 4.30%.

Foster & Motley Inc. increased its holdings in Target Corporation (NYSE:TGT - Free Report) by 17.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,207 shares of the retailer's stock after buying an additional 5,733 shares during the quarter. Foster & Motley Inc.'s holdings in Target were worth $3,987,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in Target in the fourth quarter worth approximately $29,000. Legacy Investment Solutions LLC lifted its position in Target by 47.5% in 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 Target in the fourth quarter worth approximately $40,000. Atwood & Palmer Inc. lifted its position in shares of Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after acquiring an additional 352 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in shares of Target during the 1st quarter valued at $43,000. 79.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 sale, the insider directly owned 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TGT. Guggenheim cut their price objective on Target from $155.00 to $115.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. JPMorgan Chase & Co. increased their price objective on Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Loop Capital set a $95.00 price objective on Target in a research report on Thursday, July 17th. Piper Sandler reiterated a "neutral" rating on shares of Target in a research report on Tuesday. Finally, Wall Street Zen downgraded Target from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $115.65.

Target Stock Performance

Shares of NYSE:TGT traded down $0.75 during midday trading on Friday, hitting $99.75. The company's stock had a trading volume of 5,020,123 shares, compared to its average volume of 4,692,105. The stock has a market capitalization of $45.32 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 2.87 and a beta of 1.22. The stock's 50 day simple moving average is $99.83 and its 200 day simple moving average is $107.61. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The business had revenue of $24.20 billion during 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%. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 earnings per share. As a group, research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors 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 yield of 4.5%. Target's dividend payout ratio (DPR) is 49.23%.

Target 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.