Kentucky Retirement Systems Insurance Trust Fund Sells 8,927 Shares of Target Corporation (NYSE:TGT)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in Target Corporation (NYSE:TGT - Free Report) by 39.9% during the first quarter, according to 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TGT. Brighton Jones LLC raised its position in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after buying an additional 3,059 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of Target in the fourth quarter valued at about $206,000. Integral Investment Advisors Inc. lifted its position in shares of Target by 24.8% during the fourth quarter. Integral Investment Advisors Inc. now owns 1,725 shares of the retailer's stock valued at $233,000 after purchasing an additional 343 shares in the last quarter. Howard Capital Management Inc. lifted its position in shares of Target by 8.1% during the fourth quarter. Howard Capital Management Inc. now owns 3,084 shares of the retailer's stock valued at $417,000 after purchasing an additional 230 shares in the last quarter. Finally, MONECO Advisors LLC boosted its holdings in Target by 8.1% during the fourth quarter. MONECO Advisors LLC now owns 2,536 shares of the retailer's stock worth $343,000 after purchasing an additional 189 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TGT has been the subject of several analyst reports. Jefferies Financial Group decreased their price objective on shares of Target from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Morgan Stanley reduced their price target on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Roth Mkm reaffirmed a "neutral" rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. Truist Financial increased their target price on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets lowered 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. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $116.70.

Target Trading Up 1.1%

TGT stock traded up $1.02 during midday trading on Tuesday, hitting $97.55. The company had a trading volume of 6,396,737 shares, compared to its average volume of 6,200,720. 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 52 week low of $87.35 and a 52 week high of $167.40. The stock has a market cap of $44.32 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 2.78 and a beta of 1.22. The stock's 50 day moving average price is $95.72 and its 200 day moving average price is $113.55.

Target (NYSE:TGT - Get Free Report) last issued 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 firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same period last year, the company posted $2.03 earnings per share. The business's revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a dividend of $1.12 per share. 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 dividend payout ratio is currently 49.23%.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business'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 sale, the insider now directly owns 246,453 shares of the company's stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

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.