Target Corporation (NYSE:TGT) Shares Acquired by FourThought Financial Partners LLC

Key Points

• FourThought Financial Partners LLC increased its stake in Target Corporation by 34.1%, owning 41,515 shares worth approximately $4.33 million after purchasing an additional 10,562 shares in the first quarter.
• Target reported $1.30 earnings per share, missing expectations by $0.35, with a quarterly revenue of $24.20 billion, down 2.8% year-over-year.
• The company announced a quarterly dividend of $1.12 per share, reflecting a yield of 4.23% and a payout ratio of 50.11%.

FourThought Financial Partners LLC lifted its stake in Target Corporation (NYSE:TGT - Free Report) by 34.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,515 shares of the retailer's stock after purchasing an additional 10,562 shares during the quarter. FourThought Financial Partners LLC's holdings in Target were worth $4,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TGT. Bernard Wealth Management Corp. acquired a new position in Target in the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC boosted its position in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Target in the 4th quarter valued at about $40,000. Atwood & Palmer Inc. raised its stake in Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after acquiring an additional 352 shares during the period. Finally, Abound Financial LLC acquired a new stake in shares of Target in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Up 0.2%

Shares of Target stock traded up $0.16 on Wednesday, reaching $104.34. 1,392,620 shares of the company were exchanged, compared to its average volume of 6,997,678. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The company has a market cap of $47.41 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The stock's 50 day moving average price is $99.51 and its 200-day moving average price is $107.91.

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

Target Dividend Announcement

The firm also recently disclosed 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. This represents a $4.48 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is presently 49.23%.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research reports. Mizuho reduced 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. Guggenheim reduced their target price on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Evercore ISI decreased their price objective on shares of Target from $130.00 to $120.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Wedbush reaffirmed an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $115.65.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction 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 owned 246,453 shares of the company's stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

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.