Sand Hill Global Advisors LLC Boosts Holdings in Target Corporation $TGT

Key Points

• Sand Hill Global Advisors LLC significantly increased its holdings in Target Corporation by over 2,010% in the first quarter, acquiring a total of 35,607 shares valued at approximately $3.7 million.
• Target's stock price has decreased by 1.2%, with a current market cap of $46.79 billion and a twelve-month low of $87.35.
• The company announced a quarterly dividend of $1.12, which will be paid on September 1st, offering shareholders an annualized yield of 4.3%.

Sand Hill Global Advisors LLC raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 2,010.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,607 shares of the retailer's stock after buying an additional 33,920 shares during the period. Sand Hill Global Advisors LLC's holdings in Target were worth $3,716,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TGT. Charles Schwab Investment Management Inc. grew its holdings in Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after acquiring an additional 12,825,586 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Target by 16.3% during the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock worth $726,814,000 after purchasing an additional 754,883 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock worth $560,420,000 after purchasing an additional 1,406,653 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Target by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer's stock worth $542,020,000 after purchasing an additional 370,967 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Target by 61.2% during the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after purchasing an additional 1,506,275 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Down 1.2%

Shares of Target stock opened at $102.99 on Monday. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The company's 50 day moving average is $101.77 and its 200 day moving average is $104.62. 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 2.98 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last announced 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). The company had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. Target's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. Research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently announced 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 of this dividend 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 is currently 50.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wedbush reiterated an "outperform" rating on shares of Target in a report on Thursday, July 17th. Morgan Stanley dropped their price target on Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Guggenheim cut their price target on shares of Target from $155.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Piper Sandler reaffirmed a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Finally, Citigroup reduced their price target on shares of Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Target currently has a consensus rating of "Hold" and a consensus target price of $115.42.

Insider Transactions at Target

In other Target 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 sale, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.