MWA Asset Management Has $313,000 Stake in Target Corporation (NYSE:TGT)

Key Points

• MWA Asset Management reduced its holdings in Target Corporation by 51.7% in the first quarter, selling 3,207 shares and reducing its total position to 2,995 shares valued at $313,000.
• Several hedge funds, including ING Groep NV and Commonwealth Equity Services LLC, increased their stakes in Target by significant margins during the same period, reflecting mixed sentiment among institutional investors.
• Target's recent quarterly earnings report showed an EPS of $1.30, missing estimates, with revenue down 2.8% year-over-year, alongside a declared quarterly dividend of $1.12 per share.

MWA Asset Management reduced its position in shares of Target Corporation (NYSE:TGT - Free Report) by 51.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,995 shares of the retailer's stock after selling 3,207 shares during the period. MWA Asset Management's holdings in Target were worth $313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DSG Capital Advisors LLC increased its stake in shares of Target by 16.1% during the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after acquiring an additional 21,726 shares during the period. Sierra Summit Advisors LLC raised its stake in Target by 29.0% during the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer's stock worth $1,940,000 after purchasing an additional 3,231 shares during the period. Viking Fund Management LLC increased its position in shares of Target by 20.0% in the first quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock worth $6,262,000 after acquiring an additional 10,000 shares in the last quarter. Correct Capital Wealth Management increased its position in shares of Target by 44.7% in the first quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock worth $1,415,000 after acquiring an additional 4,189 shares in the last quarter. Finally, Chapin Davis Inc. grew its holdings in Target by 64.7% during 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 in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Target Trading Up 2.6%

Target stock traded up $2.57 during trading hours on Tuesday, reaching $102.36. 5,091,381 shares of the company's stock traded hands, compared to its average volume of 4,924,973. 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 fifty-two week low of $87.35 and a fifty-two week high of $167.40. The firm has a market capitalization of $46.51 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 2.85 and a beta of 1.22. The firm's 50 day moving average is $100.16 and its 200-day moving average is $106.72.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 25.59% and a net margin of 3.95%. The business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the prior year, the business earned $2.03 earnings per share. Target's revenue was down 2.8% compared to the same quarter last year. On average, analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

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 4.4%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is 49.23%.

Analysts Set New Price Targets

TGT has been the subject of several recent analyst reports. Bank of America lowered shares of Target from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $145.00 to $105.00 in a report on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on shares of Target in a report on Thursday, May 22nd. Royal Bank Of Canada decreased their price objective on shares of Target from $112.00 to $103.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Truist Financial raised 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, JPMorgan Chase & Co. raised 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. Two equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $115.65.

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.