Illinois Municipal Retirement Fund reduced its holdings in Target Corporation (NYSE:TGT - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,913 shares of the retailer's stock after selling 3,032 shares during the period. Illinois Municipal Retirement Fund's holdings in Target were worth $12,618,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Target during the 4th quarter worth about $757,892,000. Raymond James Financial Inc. purchased a new stake in shares of Target during the 4th quarter worth about $297,122,000. Ameriprise Financial Inc. raised its stake in shares of Target by 61.2% during 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 in the last quarter. FMR LLC raised its stake in shares of Target by 13.6% during 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 in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Target during the 4th quarter worth about $182,882,000. 79.73% of the stock is owned by hedge funds and other institutional investors.
Target Stock Performance
Shares of TGT stock traded up $1.78 during mid-day trading on Friday, reaching $99.38. The stock had a trading volume of 6,375,336 shares, compared to its average volume of 6,206,589. The firm's 50 day simple moving average is $96.16 and its 200 day simple moving average is $112.65. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. 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 $45.16 billion, a PE ratio of 10.92, a P/E/G ratio of 2.85 and a beta of 1.22.
Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data 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 firm 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 business posted $2.03 EPS. Target's revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that Target Corporation will post 8.69 EPS for the current year.
Target Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.51%. Target's dividend payout ratio is currently 49.23%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on TGT shares. Robert W. Baird set a $100.00 price target on Target in a research note on Thursday, May 22nd. BMO Capital Markets cut their price target on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Thursday, May 22nd. Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a report on Thursday, April 17th. Baird R W lowered Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, Bank of America lowered Target from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $145.00 to $105.00 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $116.70.
Read Our Latest Stock Analysis on TGT
Insiders Place Their Bets
In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm'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 sale, the insider now owns 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.
Target Company Profile
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Free Report)
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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