Patton Albertson Miller Group LLC Has $4.12 Million Holdings in Target Corporation (NYSE:TGT)

Patton Albertson Miller Group LLC cut its holdings in Target Corporation (NYSE:TGT - Free Report) by 15.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,458 shares of the retailer's stock after selling 7,101 shares during the period. Patton Albertson Miller Group LLC's holdings in Target were worth $4,118,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bernard Wealth Management Corp. acquired a new stake in Target during the fourth quarter worth about $30,000. Legacy Investment Solutions LLC grew its stake 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 acquired a new stake in Target during the fourth quarter worth about $40,000. Bellwether Advisors LLC acquired a new stake in Target during the fourth quarter worth about $47,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Target during the fourth quarter worth about $49,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Up 2.4%

NYSE:TGT opened at $103.75 on Friday. The firm's fifty day moving average is $98.33 and its 200-day moving average is $109.90. 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 firm has a market cap of $47.14 billion, a P/E ratio of 11.40, a P/E/G ratio of 2.90 and a beta of 1.22.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders 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 dividend yield of 4.32%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is currently 49.23%.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TGT shares. Guggenheim reduced their price objective on shares of Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Citigroup reduced their price objective on shares of Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Cfra Research downgraded shares of Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Mizuho decreased their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, Truist Financial upped their price objective 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. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Target currently has a consensus rating of "Hold" and an average price target of $116.00.

About Target

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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