Headlands Technologies LLC Makes New Investment in Target Corporation (NYSE:TGT)

Key Points

• Headlands Technologies LLC purchased 30,621 shares of Target Corporation valued at approximately $3.2 million during the first quarter, indicating continued interest from institutional investors.
• Target's quarterly earnings report revealed earnings per share of $1.30, which missed analysts' estimates of $1.65, and a revenue decrease of 2.8% year-over-year.
• A new quarterly dividend of $1.12 per share was announced, representing a 4.2% yield, set to be paid on September 1st to shareholders on record as of August 13th.

Headlands Technologies LLC bought a new stake in Target Corporation (NYSE:TGT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,621 shares of the retailer's stock, valued at approximately $3,196,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its position in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after purchasing an additional 3,059 shares during the period. Wellington Management Group LLP raised its position in Target by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer's stock worth $7,622,000 after acquiring an additional 6,253 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in Target in the fourth quarter valued at $208,000. Invesco Ltd. boosted its position in shares of Target by 16.5% during the 4th quarter. Invesco Ltd. now owns 2,737,638 shares of the retailer's stock worth $370,074,000 after purchasing an additional 387,143 shares in the last quarter. Finally, Rathbones Group PLC grew its stake in shares of Target by 8.2% during the 4th quarter. Rathbones Group PLC now owns 3,615 shares of the retailer's stock worth $489,000 after purchasing an additional 275 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TGT shares. The Goldman Sachs Group decreased their price objective on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Morgan Stanley decreased their price target on Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised their price objective on Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Wall Street Zen cut Target from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Robert W. Baird set a $100.00 target price on Target in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $115.65.

Target Stock Performance

NYSE TGT opened at $105.44 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The firm has a market capitalization of $47.91 billion, a P/E ratio of 11.59, a P/E/G ratio of 2.93 and a beta of 1.22. The business's 50-day simple moving average is $100.35 and its 200-day simple moving average is $106.71.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period last year, the firm earned $2.03 earnings per share. The company's quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts predict 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. Investors 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 4.2%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 49.23%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company's stock.

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.

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