IFP Advisors Inc Acquires 10,984 Shares of Target Corporation (NYSE:TGT)

IFP Advisors Inc boosted its holdings in Target Corporation (NYSE:TGT - Free Report) by 233.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,686 shares of the retailer's stock after acquiring an additional 10,984 shares during the quarter. IFP Advisors Inc's holdings in Target were worth $1,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the 4th quarter worth $29,000. Legacy Investment Solutions LLC increased its stake in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Target in the 4th quarter worth $40,000. Atwood & Palmer Inc. increased its stake in shares of Target by 951.4% in the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after purchasing an additional 352 shares in the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of Target in the 1st quarter worth $43,000. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Target Stock Performance

Shares of TGT stock opened at $106.79 on Wednesday. The firm's 50 day moving average price is $98.47 and its 200-day moving average price is $109.31. 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 Corporation has a one year low of $87.35 and a one year high of $167.40. The firm has a market cap of $48.52 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.91 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last released its earnings results 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 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 analyst estimates of $24.54 billion. During the same quarter last year, the company earned $2.03 earnings per share. Target's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is 49.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays reiterated an "underweight" rating and issued a $91.00 price target on shares of Target in a research note on Monday. Royal Bank Of Canada dropped their price objective on shares of Target from $112.00 to $103.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. DA Davidson dropped their price objective on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. JPMorgan Chase & Co. increased their price objective on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $115.65.

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.

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