QRG Capital Management Inc. Sells 2,725 Shares of Target Co. (NYSE:TGT)

QRG Capital Management Inc. lowered its stake in Target Co. (NYSE:TGT - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,618 shares of the retailer's stock after selling 2,725 shares during the quarter. QRG Capital Management Inc.'s holdings in Target were worth $9,979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hopwood Financial Services Inc. bought a new stake in Target in the 4th quarter valued at about $29,000. Bernard Wealth Management Corp. bought a new position in shares of Target in the 4th quarter worth $29,000. Legacy Investment Solutions LLC grew its position in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after purchasing an additional 85 shares during the period. OFI Invest Asset Management bought a new stake in Target during the 4th quarter valued at $36,000. Finally, Heck Capital Advisors LLC bought a new stake in Target during the 4th quarter valued at $40,000. 79.73% of the stock is owned by institutional investors.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction dated 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 now directly owns 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company's stock.

Target Trading Up 2.1%

Shares of TGT stock opened at $97.37 on Tuesday. The stock has a market capitalization of $44.24 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.94 and a beta of 1.22. Target Co. has a 1 year low of $87.35 and a 1 year high of $167.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company's fifty day simple moving average is $95.65 and its two-hundred day simple moving average is $114.78.

Target (NYSE:TGT - Get Free Report) last posted its 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 4.06% and a return on equity of 31.11%. The company had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. During the same period in the previous year, the firm earned $2.03 EPS. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that Target Co. will post 8.69 earnings per share for the current 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 given a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. Target's dividend payout ratio (DPR) is currently 50.11%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TGT. Barclays began coverage on shares of Target in a research report on Thursday, May 22nd. They set an "equal weight" rating for the company. Mizuho cut their target price on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Piper Sandler set a $94.00 price target on Target and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Roth Mkm reiterated a "neutral" rating and issued a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Finally, Morgan Stanley cut their price target on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $116.70.

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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