Target Co. (NYSE:TGT) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in Target Co. (NYSE:TGT - Free Report) by 105.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,680 shares of the retailer's stock after acquiring an additional 11,142 shares during the quarter. SG Americas Securities LLC's holdings in Target were worth $2,263,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Target in the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. acquired a new stake in Target during the 4th quarter worth approximately $29,000. Legacy Investment Solutions LLC raised its holdings 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 acquiring an additional 85 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Target in the 4th quarter valued at $36,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Target in the 4th quarter valued at $40,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

Shares of NYSE TGT traded down $4.04 during midday trading on Friday, reaching $95.25. 7,297,011 shares of the company were exchanged, compared to its average volume of 6,130,221. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 1 year low of $87.35 and a 1 year high of $167.40. The stock has a fifty day simple moving average of $95.48 and a 200 day simple moving average of $115.13. The stock has a market cap of $43.28 billion, a P/E ratio of 10.10, a PEG ratio of 1.94 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last released its quarterly 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 31.11% and a net margin of 4.06%. 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 prior year, the business earned $2.03 EPS. The business's quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business 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 of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.70%. Target's payout ratio is 50.11%.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of research reports. Piper Sandler set a $94.00 price target on Target and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Truist Financial increased their price objective on Target from $82.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, May 22nd. Royal Bank of Canada cut their price target on Target from $112.00 to $103.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on Target in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein downgraded Target from a "market perform" rating to an "underperform" rating and lowered their price target for the company from $97.00 to $82.00 in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $116.70.

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.