Kingsview Wealth Management LLC Sells 2,545 Shares of Target Corporation (NYSE:TGT)

Kingsview Wealth Management LLC lessened its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,606 shares of the retailer's stock after selling 2,545 shares during the period. Kingsview Wealth Management LLC's holdings in Target were worth $11,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Target during the 4th quarter worth $757,892,000. Ameriprise Financial Inc. increased its position in shares of Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after acquiring an additional 1,506,275 shares in the last quarter. FMR LLC increased its position in shares of Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after acquiring an additional 1,358,348 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Target during the 4th quarter valued at $182,882,000. Finally, Capital World Investors grew its holdings in Target by 6.3% during the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

TGT has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price target on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Cfra Research downgraded shares of Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Truist Financial upped their price target on shares of Target from $82.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, May 22nd. Finally, Mizuho reduced their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $116.00.

Target Price Performance

Shares of TGT stock traded down $0.25 during midday trading on Friday, reaching $103.40. 5,280,800 shares of the company were exchanged, compared to its average volume of 6,311,661. The company's 50 day moving average price is $98.47 and its two-hundred day moving average price is $109.51. The company has a market cap of $46.98 billion, a P/E ratio of 11.36, a PEG ratio of 2.96 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 Corporation has a 12 month low of $87.35 and a 12 month high of $167.40.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion for 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%. Target's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. On average, sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.33%. Target's dividend payout ratio is currently 49.23%.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction dated 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 owned 246,453 shares of the company's stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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.