Mather Group LLC. Acquires 16,496 Shares of Target Corporation (NYSE:TGT)

Mather Group LLC. boosted its holdings in Target Corporation (NYSE:TGT - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,674 shares of the retailer's stock after buying an additional 16,496 shares during the period. Mather Group LLC.'s holdings in Target were worth $11,863,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Target in the 4th quarter worth $757,892,000. Raymond James Financial Inc. acquired a new position in Target in the fourth quarter valued at about $297,122,000. Ameriprise Financial Inc. lifted its stake in Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after buying an additional 1,506,275 shares during the period. FMR LLC boosted its holdings in Target by 13.6% during the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after buying an additional 1,358,348 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of Target during the 4th quarter worth about $182,882,000. 79.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Target 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TGT. Bank of America lowered shares of Target from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $145.00 to $105.00 in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Piper Sandler set a $94.00 price objective on shares of Target and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Citigroup dropped their price objective on Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group decreased their target price on Target from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Target has a consensus rating of "Hold" and an average target price of $116.70.

Target Stock Performance

NYSE TGT traded up $1.52 during trading on Wednesday, reaching $105.37. The company's stock had a trading volume of 6,322,705 shares, compared to its average volume of 6,242,939. The firm has a 50 day moving average price of $96.46 and a 200 day moving average price of $112.19. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40. The firm has a market capitalization of $47.88 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.97 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 issued its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period in the prior year, the company earned $2.03 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

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 paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 49.23%.

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.