Inlet Private Wealth LLC Purchases 2,450 Shares of Target Corporation (NYSE:TGT)

Key Points

• Inlet Private Wealth LLC increased its shareholdings in Target Corporation by 14.1% in the first quarter, now owning a total of 19,880 shares valued at approximately $2,075,000.
• Target's most recent earnings report showed an EPS of $1.30, which missed analysts' estimates by $0.35, with revenues down 2.8% from the previous year.
• The company's quarterly dividend of $1.12 will be paid on September 1st, resulting in a yield of 4.23%, with a payout ratio of 49.23%.

Inlet Private Wealth LLC raised its position in shares of Target Corporation (NYSE:TGT - Free Report) by 14.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,880 shares of the retailer's stock after purchasing an additional 2,450 shares during the quarter. Inlet Private Wealth LLC's holdings in Target were worth $2,075,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. DSG Capital Advisors LLC grew its stake in shares of Target by 16.1% during the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock valued at $16,347,000 after purchasing an additional 21,726 shares during the period. Sierra Summit Advisors LLC grew its stake in shares of Target by 29.0% during the 4th quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer's stock valued at $1,940,000 after purchasing an additional 3,231 shares during the period. Viking Fund Management LLC grew its stake in shares of Target by 20.0% during the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock valued at $6,262,000 after purchasing an additional 10,000 shares during the period. Correct Capital Wealth Management grew its stake in shares of Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock valued at $1,415,000 after purchasing an additional 4,189 shares during the period. Finally, Chapin Davis Inc. grew its stake in shares of Target by 64.7% during the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock valued at $888,000 after purchasing an additional 3,342 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TGT. Robert W. Baird set a $100.00 price objective on Target in a research note on Thursday, May 22nd. Piper Sandler set a $94.00 price objective on Target and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Morgan Stanley cut their price objective on Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price objective on Target and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $115.65.

Target Stock Performance

NYSE:TGT opened at $106.03 on Monday. The stock's fifty day moving average is $99.22 and its 200 day moving average is $108.18. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The firm has a market capitalization of $48.18 billion, a PE ratio of 11.65, a PEG ratio of 3.03 and a beta of 1.22. 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 (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 the consensus estimate of $1.65 by ($0.35). The business had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.03 EPS. On average, sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm 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. This represents a $4.48 annualized dividend and a yield of 4.23%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 49.23%.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction 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 transaction, the insider owned 246,453 shares of the company's stock, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

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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