SBI Securities Co. Ltd. increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 75.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,617 shares of the retailer's stock after acquiring an additional 30,350 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Target were worth $7,370,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in Target during the 4th quarter worth about $29,000. Legacy Investment Solutions LLC boosted its stake in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Target during the 4th quarter worth approximately $40,000. Atwood & Palmer Inc. raised its position in Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after buying an additional 352 shares during the last quarter. Finally, Abound Financial LLC purchased a new position in Target during the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 79.73% of the company's stock.
Insider Transactions at Target
In other news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction on 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 sale, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on TGT. Piper Sandler set a $94.00 price objective on shares of Target and gave the company a "neutral" rating in a report on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price objective on shares of Target and gave the company a "market perform" rating in a report on Thursday, May 22nd. Guggenheim cut their target price on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Wall Street Zen cut shares of Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Robert W. Baird set a $100.00 target price on shares of Target in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $116.70.
View Our Latest Stock Analysis on Target
Target Stock Down 2.4%
Target stock traded down $2.50 during mid-day trading on Tuesday, reaching $102.37. 5,280,544 shares of the company's stock were exchanged, compared to its average volume of 6,282,864. The company has a market cap of $46.51 billion, a P/E ratio of 11.25, a P/E/G ratio of 3.00 and a beta of 1.22. 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 has a fifty day moving average of $97.91 and a 200-day moving average of $110.24.
Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter last year, the company earned $2.03 earnings per share. Target's quarterly revenue was down 2.8% compared to the same quarter last year. Sell-side analysts expect that Target Corporation will post 8.69 EPS for the current year.
Target Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.38%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is currently 49.23%.
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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