Pzena Investment Management LLC Buys New Stake in Target Corporation (NYSE:TGT)

Pzena Investment Management LLC bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 345,129 shares of the retailer's stock, valued at approximately $36,018,000. Pzena Investment Management LLC owned 0.08% of Target at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Horrell Capital Management Inc. boosted its stake in shares of Target by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer's stock valued at $3,603,000 after purchasing an additional 76 shares in the last quarter. Fiducient Advisors LLC lifted its position in Target by 4.6% during the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock worth $240,000 after buying an additional 78 shares in the last quarter. Napatree Capital LLC lifted its position in Target by 2.4% during the 4th quarter. Napatree Capital LLC now owns 3,609 shares of the retailer's stock worth $488,000 after buying an additional 85 shares in the last quarter. Legacy Investment Solutions LLC lifted its position in Target by 47.5% during the 4th 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. Finally, Bontempo Ohly Capital Mgmt LLC lifted its position in Target by 0.3% during the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock worth $3,875,000 after buying an additional 85 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Loop Capital set a $95.00 price target on Target in a research note on Thursday. DA Davidson lowered their target price on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Guggenheim lowered their target price on Target from $155.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Mizuho lowered their target price on Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, Barclays assumed coverage on Target in a research note on Thursday, May 22nd. They set an "equal weight" rating for the company. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $116.00.

Insider Activity

In other Target 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 transaction, the insider directly owned 246,453 shares of the company's stock, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Target Stock Down 0.2%

Shares of NYSE TGT traded down $0.25 during mid-day trading on Friday, hitting $103.40. The company had a trading volume of 5,280,800 shares, compared to its average volume of 6,298,866. The company has a market capitalization of $46.98 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 2.96 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The business's 50-day simple moving average is $98.47 and its 200 day simple moving average is $109.69.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share 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 business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The firm's quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.33%. Target's dividend payout ratio (DPR) is presently 49.23%.

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.