Target Corporation (NYSE:TGT) Shares Bought by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 33.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,813 shares of the retailer's stock after acquiring an additional 6,423 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Target were worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Target during the fourth quarter worth about $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter worth approximately $29,000. Legacy Investment Solutions LLC boosted its position in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after acquiring an additional 85 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Target in the fourth quarter worth approximately $40,000. Finally, Atwood & Palmer Inc. boosted its position in shares of Target by 951.4% in the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after acquiring an additional 352 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the company'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 completion of the sale, the insider owned 246,453 shares of the company's stock, valued at $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 SEC, which is available through the SEC website. Company insiders own 0.16% of the company's stock.

Target Stock Performance

Shares of TGT traded down $0.48 during midday trading on Friday, hitting $104.26. 3,863,821 shares of the stock traded hands, compared to its average volume of 6,269,118. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The firm has a market capitalization of $47.37 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 3.00 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The business's 50 day moving average price is $97.69 and its two-hundred day moving average price is $110.78.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results 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 period last year, the firm posted $2.03 EPS. The business's revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company 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 dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is 49.23%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TGT shares. Royal Bank Of Canada decreased their target price on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. The Goldman Sachs Group decreased their target price on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. BMO Capital Markets decreased their target price on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird set a $100.00 price target on shares of Target in a research report on Thursday, May 22nd. Finally, Citigroup reduced their price target on shares of Target from $97.00 to $94.00 and set a "neutral" rating on the stock 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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.