Principal Financial Group Inc. lessened its position in Target Corporation (NYSE:TGT - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 543,606 shares of the retailer's stock after selling 5,571 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Target worth $56,731,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in TGT. Brighton Jones LLC lifted its position in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after buying an additional 3,059 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Target by 74.3% during the 4th quarter. Proficio Capital Partners LLC now owns 4,480 shares of the retailer's stock valued at $606,000 after purchasing an additional 1,910 shares in the last quarter. Welch & Forbes LLC raised its holdings in shares of Target by 9.1% during the 4th quarter. Welch & Forbes LLC now owns 8,176 shares of the retailer's stock valued at $1,105,000 after purchasing an additional 685 shares in the last quarter. Callan Family Office LLC bought a new position in shares of Target during the 4th quarter valued at $1,177,000. Finally, Edgestream Partners L.P. bought a new position in shares of Target during the 4th quarter valued at $1,289,000. Hedge funds and other institutional investors own 79.73% of the company's stock.
Target Trading Down 2.3%
NYSE:TGT traded down $2.36 during trading hours on Monday, hitting $101.70. The stock had a trading volume of 5,675,117 shares, compared to its average volume of 6,259,004. Target Corporation has a one year low of $87.35 and a one year high of $167.40. 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 company has a market cap of $46.21 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 2.98 and a beta of 1.22. The business's 50 day moving average is $97.05 and its 200-day moving average is $111.49.
Target (NYSE:TGT - Get Free Report) last released 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). The company had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.03 EPS. Sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.
Target Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors 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 yield of 4.41%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is 49.23%.
Insider Buying and Selling
In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were 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 owned 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on TGT shares. Robert W. Baird set a $100.00 price target on shares of Target in a report on Thursday, May 22nd. Wall Street Zen lowered shares of Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Bank of America lowered shares of Target from a "buy" rating to a "neutral" rating and lowered their target price for the company from $145.00 to $105.00 in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their target price on shares of Target from $130.00 to $120.00 and set a "hold" rating on the stock in a research note on Thursday, March 20th. Finally, Sanford C. Bernstein lowered shares of Target from a "market perform" rating to an "underperform" rating and lowered their target price for the company from $97.00 to $82.00 in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $116.70.
View Our Latest Analysis on Target
About Target
(
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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