Target Corporation (NYSE:TGT) Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Target Corporation by 30.5%, owning $75.85 million worth of shares after acquiring 170,020 additional shares.
• Target's recent earnings report revealed a missed earnings per share (EPS) estimate of $1.30, falling short of expectations by $0.35 with quarterly revenue down 2.8% year-over-year.
• The company declared a $1.12 quarterly dividend, offering investors an annual yield of 4.2%, with a payout ratio of 49.23%.

Russell Investments Group Ltd. raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 30.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 726,970 shares of the retailer's stock after purchasing an additional 170,020 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of Target worth $75,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of TGT. Brighton Jones LLC lifted its holdings in shares of 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 acquiring an additional 3,059 shares during the last quarter. Scotia Capital Inc. bought a new stake in shares of Target in the 4th quarter worth about $233,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Target by 29.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 103,795 shares of the retailer's stock worth $14,059,000 after acquiring an additional 23,878 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Target by 2.2% in the 4th quarter. Townsquare Capital LLC now owns 8,364 shares of the retailer's stock worth $1,131,000 after acquiring an additional 182 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of Target in the 4th quarter worth about $668,000. Institutional investors own 79.73% of the company's stock.

Target Stock Performance

TGT stock traded down $1.26 during trading on Friday, reaching $102.99. The company had a trading volume of 6,291,910 shares, compared to its average volume of 6,902,920. The firm has a 50-day simple moving average of $101.66 and a 200-day simple moving average of $105.38. The company has a market cap of $46.79 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 3.02 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. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 25.59% and a net margin of 3.95%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $2.03 earnings per share. As a group, sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.3%. Target's dividend payout ratio (DPR) is 50.11%.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred 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 sale, the insider directly owned 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research analyst reports. Guggenheim decreased their price objective on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Bank of America reiterated an "underperform" rating and set a $93.00 price objective (down previously from $105.00) on shares of Target in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Evercore ISI lifted their price objective on shares of Target from $104.00 to $108.00 and gave the company an "in-line" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $115.42.

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.