KLCM Advisors Inc. Has $10.37 Million Holdings in Target Corporation (NYSE:TGT)

Key Points

• KLCM Advisors Inc. increased its stake in Target Corporation by 376.2%, acquiring an additional 78,515 shares, bringing their total to 99,386 shares valued at approximately $10.37 million.
• In its latest earnings report, Target posted $1.30 EPS, missing estimates and reporting a 2.8% decline in quarterly revenue year-over-year.
• The company has announced a quarterly dividend of $1.12 per share, with a yield of 4.3%, to be paid on September 1st to investors of record on August 13th.

KLCM Advisors Inc. raised its position in Target Corporation (NYSE:TGT - Free Report) by 376.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,386 shares of the retailer's stock after purchasing an additional 78,515 shares during the quarter. Target makes up approximately 1.2% of KLCM Advisors Inc.'s holdings, making the stock its 26th biggest position. KLCM Advisors Inc.'s holdings in Target were worth $10,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Brighton Jones LLC grew its stake in Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after purchasing an additional 3,059 shares in the last quarter. Scotia Capital Inc. bought a new stake in shares of Target during the 4th quarter worth about $233,000. Rockefeller Capital Management L.P. boosted its stake in shares of Target by 29.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 103,795 shares of the retailer's stock worth $14,059,000 after acquiring an additional 23,878 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Target by 2.2% during the 4th quarter. Townsquare Capital LLC now owns 8,364 shares of the retailer's stock worth $1,131,000 after acquiring an additional 182 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in shares of Target by 53.5% during the 4th quarter. Belpointe Asset Management LLC now owns 6,092 shares of the retailer's stock worth $824,000 after acquiring an additional 2,123 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on TGT shares. Royal Bank Of Canada decreased their price target on Target from $112.00 to $103.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Barclays reissued an "underweight" rating and set a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Wedbush reissued an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Morgan Stanley cut their price target on Target from $160.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, Truist Financial set a $107.00 price target on Target and gave the company a "hold" rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $115.42.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Target Trading Down 1.2%

Shares of TGT stock traded down $1.26 during trading hours on Friday, reaching $102.99. The company had a trading volume of 6,291,910 shares, compared to its average volume of 5,200,333. The company has a 50 day moving average of $101.77 and a 200 day moving average of $104.87. 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 firm has a market cap of $46.79 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 2.95 and a beta of 1.22. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share 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 analyst estimates of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.03 EPS. On average, equities research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.3%. Target's dividend payout ratio is 50.11%.

About Target

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.