Target Corporation (NYSE:TGT) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its stake in Target Corporation (NYSE:TGT - Free Report) by 39.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,457 shares of the retailer's stock after selling 8,927 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Target were worth $1,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new position in Target during the fourth quarter worth $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Target during the 4th quarter worth $29,000. Legacy Investment Solutions LLC boosted its position 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 buying an additional 85 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Target in the 4th quarter worth about $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Target in the 4th quarter valued at about $40,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on TGT. BMO Capital Markets reduced their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a report on Thursday, May 22nd. Wall Street Zen cut Target from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price target on Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. DA Davidson dropped their price objective on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Finally, Telsey Advisory Group set a $110.00 target price on shares of Target and gave the company a "market perform" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $116.70.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the firm'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 sale, the insider now directly owns 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company's stock.

Target Trading Up 1.0%

TGT stock traded up $0.94 during midday trading on Thursday, reaching $97.64. 5,312,926 shares of the company's stock traded hands, compared to its average volume of 6,216,277. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The business has a 50-day moving average price of $96.04 and a two-hundred day moving average price of $113.06. The company has a market capitalization of $44.36 billion, a P/E ratio of 10.73, a PEG ratio of 2.78 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share 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 EPS. The business's revenue was down 2.8% compared to the same quarter last year. Equities research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is 49.23%.

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.