Schechter Investment Advisors LLC Sells 2,847 Shares of Target Corporation (NYSE:TGT)

Schechter Investment Advisors LLC lessened its position in Target Corporation (NYSE:TGT - Free Report) by 23.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,165 shares of the retailer's stock after selling 2,847 shares during the period. Schechter Investment Advisors LLC's holdings in Target were worth $956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TGT. Norges Bank acquired a new stake in Target in the 4th quarter worth about $757,892,000. Ameriprise Financial Inc. raised its stake in Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after purchasing an additional 1,506,275 shares in the last quarter. FMR LLC raised its stake in Target by 13.6% in the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after purchasing an additional 1,358,348 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Target in the 4th quarter worth about $182,882,000. Finally, Capital World Investors raised its stake in Target by 6.3% in the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock worth $2,964,565,000 after purchasing an additional 1,306,552 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

TGT has been the subject of several analyst reports. Robert W. Baird set a $100.00 price objective on shares of Target in a research note on Thursday, May 22nd. Royal Bank Of Canada dropped their price objective on shares of Target from $112.00 to $103.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Baird R W cut shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Barclays assumed coverage on shares of Target in a research report on Thursday, May 22nd. They set an "equal weight" rating on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note 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 issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $116.70.

Target Stock Performance

NYSE TGT opened at $104.97 on Tuesday. The company has a market capitalization of $47.69 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 2.98 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 stock has a fifty day simple moving average of $97.91 and a 200 day simple moving average of $110.24. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT - Get Free Report) last issued its quarterly 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 firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $2.03 EPS. Sell-side analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently disclosed 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 of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.27%. Target's dividend payout ratio (DPR) is presently 49.23%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated 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 transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.

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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