Matrix Asset Advisors Inc. NY Invests $6.18 Million in Target Corporation (NYSE:TGT)

Matrix Asset Advisors Inc. NY acquired a new position in Target Corporation (NYSE:TGT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 59,175 shares of the retailer's stock, valued at approximately $6,175,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TGT. Brighton Jones LLC grew its stake in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after acquiring an additional 3,059 shares during the period. ING Groep NV bought a new position in Target in the 4th quarter worth about $5,520,000. Centricity Wealth Management LLC bought a new position in Target in the 4th quarter worth about $96,000. VisionPoint Advisory Group LLC bought a new position in Target in the 4th quarter worth about $206,000. Finally, Greystone Financial Group LLC boosted its stake in Target by 43.4% in the 4th quarter. Greystone Financial Group LLC now owns 57,289 shares of the retailer's stock worth $7,744,000 after purchasing an additional 17,349 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the business'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 now owns 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company's stock.

Target Stock Up 1.1%

Shares of NYSE TGT traded up $1.03 during mid-day trading on Monday, hitting $96.57. 6,875,022 shares of the stock traded hands, compared to its average volume of 6,190,824. 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 52 week low of $87.35 and a 52 week high of $167.40. The company has a market cap of $43.88 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 2.75 and a beta of 1.22. The stock has a fifty day moving average price of $95.67 and a 200-day moving average price of $113.80.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $24.54 billion. During the same period last year, the firm posted $2.03 earnings per share. The company's revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently announced 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. This represents a $4.48 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) is 49.23%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Telsey Advisory Group set a $110.00 price target on Target and gave the company a "market perform" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada dropped their price target on Target from $112.00 to $103.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Baird R W downgraded Target from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. The Goldman Sachs Group dropped their price target on Target from $101.00 to $90.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Finally, Piper Sandler set a $94.00 price target on Target and gave the company a "neutral" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $116.70.

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.