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Target Corporation (NYSE:TGT) Position Boosted by NorthRock Partners LLC

Target logo with Retail/Wholesale background

Key Points

  • NorthRock Partners LLC increased its stake in Target Corporation by 6.4%, owning 103,001 shares valued at approximately $10.75 million as of the end of the last reporting period.
  • Target announced a quarterly dividend of $1.12 per share, with a yield of 4.30%, to be paid on September 1st to investors who were on record as of August 13th.
  • Target's recent earnings report showed a missed estimate of $1.30 EPS against a consensus of $1.65, with revenue declining 2.8% year-over-year.
  • Interested in Target? Here are five stocks we like better.

NorthRock Partners LLC grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,001 shares of the retailer's stock after buying an additional 6,235 shares during the quarter. NorthRock Partners LLC's holdings in Target were worth $10,749,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TGT. Bernard Wealth Management Corp. acquired a new position in Target during the fourth quarter worth $30,000. Legacy Investment Solutions LLC increased its position in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after buying an additional 85 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Target during the fourth quarter worth $40,000. Bellwether Advisors LLC purchased a new position in Target during the fourth quarter worth $47,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Target during the fourth quarter worth $49,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Robert W. Baird set a $100.00 price target on Target in a research report on Thursday, May 22nd. BMO Capital Markets lowered their price objective on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Thursday, May 22nd. Citigroup lowered their price objective on Target from $97.00 to $94.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Sanford C. Bernstein downgraded Target from a "market perform" rating to an "underperform" rating and lowered their price objective for the company from $97.00 to $82.00 in a research report on Monday, May 12th. Finally, Loop Capital set a $95.00 price objective on Target in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $115.65.

Read Our Latest Report on Target

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction 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 approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company's stock.

Target Stock Down 0.7%

NYSE TGT traded down $0.75 on Friday, hitting $99.75. 5,020,123 shares of the stock traded hands, compared to its average volume of 4,692,105. The stock has a 50-day moving average of $99.83 and a 200 day moving average of $107.61. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a market capitalization of $45.32 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 2.87 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 (EPS) 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 analyst estimates of $24.54 billion. During the same quarter in the previous 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, analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.5%. Target's dividend payout ratio is 49.23%.

Target Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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