Korea Investment CORP Sells 166,559 Shares of Target Corporation $TGT

Key Points

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Korea Investment CORP lessened its stake in Target Corporation (NYSE:TGT - Free Report) by 29.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 392,306 shares of the retailer's stock after selling 166,559 shares during the period. Korea Investment CORP owned about 0.09% of Target worth $40,941,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. DSG Capital Advisors LLC grew its position in shares of Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock valued at $16,347,000 after buying an additional 21,726 shares during the last quarter. Viking Fund Management LLC lifted its stake in shares of Target by 20.0% in the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock valued at $6,262,000 after purchasing an additional 10,000 shares during the period. Correct Capital Wealth Management lifted its stake in shares of Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock valued at $1,415,000 after purchasing an additional 4,189 shares during the period. Chapin Davis Inc. lifted its stake in shares of Target by 64.7% in the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock valued at $888,000 after purchasing an additional 3,342 shares during the period. Finally, CMH Wealth Management LLC lifted its stake in shares of Target by 31.5% in the 1st quarter. CMH Wealth Management LLC now owns 61,420 shares of the retailer's stock valued at $6,410,000 after purchasing an additional 14,719 shares during the period. Institutional investors own 79.73% of the company's stock.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm'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 completion of the transaction, the insider directly owned 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Target Price Performance

Shares of NYSE TGT opened at $105.00 on Tuesday. The stock has a fifty day simple moving average of $101.92 and a two-hundred day simple moving average of $104.39. 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 $47.71 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 2.98 and a beta of 1.22. 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 (NYSE:TGT - Get Free Report) last announced its quarterly earnings data 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 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. Target's revenue for the quarter was down 2.8% on a year-over-year basis. Analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

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 issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 50.11%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TGT. Wall Street Zen raised Target from a "sell" rating to a "hold" rating in a research note on Sunday. Evercore ISI upped their price target on Target from $104.00 to $108.00 and gave the stock an "in-line" rating in a research note on Tuesday, August 12th. Bank of America reaffirmed an "underperform" rating and set a $93.00 price target (down from $105.00) on shares of Target in a research note on Friday. Mizuho dropped their price target on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, Guggenheim dropped their price target on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $115.42.

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.

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