Kestra Private Wealth Services LLC Boosts Position in Target Corporation (NYSE:TGT)

Kestra Private Wealth Services LLC increased its position in shares of Target Corporation (NYSE:TGT - Free Report) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,992 shares of the retailer's stock after acquiring an additional 4,821 shares during the period. Kestra Private Wealth Services LLC's holdings in Target were worth $4,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after acquiring an additional 3,059 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Target by 74.3% during the 4th quarter. Proficio Capital Partners LLC now owns 4,480 shares of the retailer's stock valued at $606,000 after purchasing an additional 1,910 shares during the last quarter. HUB Investment Partners LLC grew its holdings in shares of Target by 27.0% during the 4th quarter. HUB Investment Partners LLC now owns 1,988 shares of the retailer's stock valued at $269,000 after purchasing an additional 423 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Target by 6.5% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 12,205 shares of the retailer's stock valued at $1,650,000 after purchasing an additional 744 shares during the last quarter. Finally, Summit Global Investments grew its holdings in shares of Target by 513.5% during the 4th quarter. Summit Global Investments now owns 12,356 shares of the retailer's stock valued at $1,670,000 after purchasing an additional 10,342 shares during the last quarter. Institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler set a $94.00 target price on shares of Target and gave the company a "neutral" rating in a report on Thursday, May 22nd. Wells Fargo & Company cut their price target on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Royal Bank Of Canada cut their price target on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. BMO Capital Markets lowered their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Thursday, May 22nd. Finally, Mizuho lowered their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $115.65.

Target Trading Down 1.5%

Shares of TGT traded down $1.57 during midday trading on Thursday, hitting $105.87. The stock had a trading volume of 1,597,859 shares, compared to its average volume of 7,071,953. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The firm has a market cap of $48.10 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 3.05 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The stock's 50 day moving average is $98.89 and its 200 day moving average is $109.05.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 earnings per share. As a group, analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is currently 49.23%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider directly owned 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.