20,600 Shares in Target Corporation (NYSE:TGT) Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. bought a new stake in shares of Target Corporation (NYSE:TGT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 20,600 shares of the retailer's stock, valued at approximately $2,150,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Horrell Capital Management Inc. boosted its stake in Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer's stock valued at $3,603,000 after purchasing an additional 76 shares in the last quarter. Fiducient Advisors LLC raised its holdings in shares of Target by 4.6% in the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock worth $240,000 after purchasing an additional 78 shares in the last quarter. Napatree Capital LLC lifted its stake in Target by 2.4% during the fourth quarter. Napatree Capital LLC now owns 3,609 shares of the retailer's stock valued at $488,000 after purchasing an additional 85 shares during the last quarter. Legacy Investment Solutions LLC boosted its holdings in 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 buying an additional 85 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC grew its position in Target by 0.3% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock worth $3,875,000 after buying an additional 85 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of Target 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 completion of the sale, the insider now owns 246,453 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Target Stock Up 0.2%

Shares of NYSE TGT traded up $0.20 during midday trading on Thursday, reaching $95.22. The company's stock had a trading volume of 6,403,077 shares, compared to its average volume of 6,157,923. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The stock has a 50 day simple moving average of $95.56 and a 200-day simple moving average of $114.51. The stock has a market capitalization of $43.26 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 2.73 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last posted 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 business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the previous year, the business posted $2.03 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders 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 dividend yield of 4.70%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is presently 50.11%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of research analyst reports. Telsey Advisory Group set a $110.00 target price on Target and gave the company a "market perform" rating in a report on Thursday, May 22nd. Oppenheimer reduced their price target on shares of Target from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Truist Financial boosted their price objective on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, May 22nd. Stifel Nicolaus cut their target price on shares of Target from $130.00 to $120.00 and set a "hold" rating for the company in a research report on Thursday, March 20th. Finally, DA Davidson cut their price objective on Target from $140.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $116.70.

About Target

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.