J. Safra Sarasin Holding AG Trims Holdings in Target Corporation (NYSE:TGT)

Key Points

• J. Safra Sarasin Holding AG reduced its holdings in Target Corporation by 52.4%, owning 13,069 shares after selling 14,402 shares in Q1.
• Target's quarterly earnings report revealed an EPS of $1.30, missing the consensus estimate of $1.65, with revenue down 2.8% year-over-year.
• The company announced a quarterly dividend of $1.12 per share, translating to an annualized yield of 4.5%.

J. Safra Sarasin Holding AG decreased its holdings in Target Corporation (NYSE:TGT - Free Report) by 52.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,069 shares of the retailer's stock after selling 14,402 shares during the period. J. Safra Sarasin Holding AG's holdings in Target were worth $1,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banco Santander S.A. increased its stake in shares of Target by 70.6% during the first quarter. Banco Santander S.A. now owns 14,986 shares of the retailer's stock valued at $1,564,000 after buying an additional 6,201 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Target by 404.9% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,748 shares of the retailer's stock valued at $1,777,000 after buying an additional 13,431 shares during the period. LSV Asset Management increased its stake in shares of Target by 92.3% during the first quarter. LSV Asset Management now owns 535,370 shares of the retailer's stock valued at $55,871,000 after buying an additional 256,960 shares during the period. Harbour Investments Inc. increased its stake in shares of Target by 4.1% during the first quarter. Harbour Investments Inc. now owns 8,512 shares of the retailer's stock valued at $888,000 after buying an additional 332 shares during the period. Finally, Sound View Wealth Advisors Group LLC increased its stake in shares of Target by 9.3% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,137 shares of the retailer's stock valued at $536,000 after buying an additional 436 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Performance

Shares of NYSE TGT opened at $99.75 on Monday. 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 12 month low of $87.35 and a 12 month high of $167.40. The company has a 50 day simple moving average of $99.94 and a two-hundred day simple moving average of $106.99. The stock has a market cap of $45.32 billion, a price-to-earnings ratio of 10.96, a PEG 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 the consensus estimate 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 analyst estimates of $24.54 billion. During the same quarter in the previous year, the firm posted $2.03 earnings per share. The business's revenue was down 2.8% on a year-over-year basis. As a group, analysts predict 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 paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is presently 49.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TGT shares. Wall Street Zen lowered Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Mizuho cut their price target on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Piper Sandler restated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Guggenheim cut their price target on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Finally, Wedbush restated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Two 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 stock. According to MarketBeat.com, Target presently has a consensus rating of "Hold" and an average price target of $115.65.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred 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 sale, the insider directly owned 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Target 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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