Hohimer Wealth Management LLC Boosts Stock Position in Target Corporation (NYSE:TGT)

Hohimer Wealth Management LLC lifted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 12.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,524 shares of the retailer's stock after purchasing an additional 3,057 shares during the period. Hohimer Wealth Management LLC's holdings in Target were worth $2,977,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Target in the fourth quarter worth about $757,892,000. Ameriprise Financial Inc. grew its position in Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after purchasing an additional 1,506,275 shares during the period. FMR LLC grew its position in Target by 13.6% in the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after purchasing an additional 1,358,348 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Target in the 4th quarter worth approximately $182,882,000. Finally, Capital World Investors grew its position in Target by 6.3% in the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock worth $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TGT. Cfra Research downgraded shares of Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. Bank of America downgraded shares of Target from a "buy" rating to a "neutral" rating and cut their price objective for the company from $145.00 to $105.00 in a research report on Thursday, May 22nd. Mizuho cut their price objective on shares of Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Guggenheim cut their price objective on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $116.70.

Insider Transactions at Target

In related 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 transaction, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Target Price Performance

Shares of TGT stock opened at $104.26 on Monday. 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 company has a market capitalization of $47.37 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.98 and a beta of 1.22. The company's 50-day simple moving average is $97.69 and its two-hundred day simple moving average is $110.45. Target Corporation has a one year low of $87.35 and a one year high of $167.40.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) 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 the consensus estimate of $24.54 billion. During the same quarter in the prior year, the business posted $2.03 earnings per share. Target's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

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 is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.30%. Target's dividend payout ratio is presently 49.23%.

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.

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