Golden State Equity Partners Sells 12,266 Shares of Target Corporation (NYSE:TGT)

Golden State Equity Partners lessened its position in Target Corporation (NYSE:TGT - Free Report) by 83.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,500 shares of the retailer's stock after selling 12,266 shares during the period. Golden State Equity Partners' holdings in Target were worth $261,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nicholas Company Inc. grew its holdings in Target by 20.5% in the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer's stock worth $7,544,000 after acquiring an additional 9,485 shares during the last quarter. River Road Asset Management LLC lifted its position in shares of Target by 144.9% in the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer's stock worth $31,699,000 after purchasing an additional 138,751 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Target in the 4th quarter worth about $6,459,000. Sierra Summit Advisors LLC lifted its position in shares of Target by 29.0% in the 4th quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer's stock worth $1,940,000 after purchasing an additional 3,231 shares during the period. Finally, Viking Fund Management LLC lifted its position in shares of Target by 20.0% in the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock worth $6,262,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 79.73% of the company's stock.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Target Stock Up 1.0%

Shares of Target stock opened at $97.64 on Friday. The company has a 50-day simple moving average of $96.04 and a two-hundred day simple moving average of $113.06. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The stock has a market capitalization of $44.36 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 2.78 and a beta of 1.22. 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 announced its quarterly 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). Target had a return on equity of 25.59% and a net margin of 3.95%. The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the prior year, the firm earned $2.03 earnings per share. The business's revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm 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 annualized dividend and a yield of 4.59%. Target's dividend payout ratio (DPR) is 49.23%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TGT shares. Wall Street Zen cut shares of Target from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on shares of Target from $101.00 to $90.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. BMO Capital Markets dropped their target price on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Thursday, May 22nd. Truist Financial raised their target price on shares of Target from $82.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, May 22nd. Finally, DA Davidson dropped their target price on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Target has an average rating of "Hold" and an average target price of $116.70.

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.

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.