Griffin Asset Management Inc. Purchases 6,352 Shares of Target Co. (NYSE:TGT)

Griffin Asset Management Inc. raised its stake in Target Co. (NYSE:TGT - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 69,606 shares of the retailer's stock after purchasing an additional 6,352 shares during the period. Griffin Asset Management Inc.'s holdings in Target were worth $7,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in shares of Target in the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Target in the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC boosted its holdings in shares of 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 buying an additional 85 shares during the period. OFI Invest Asset Management acquired a new position in shares of Target in the 4th quarter valued at about $36,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at about $40,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Down 4.1%

Shares of TGT stock traded down $4.04 during trading hours on Friday, reaching $95.25. 7,297,011 shares of the stock traded hands, compared to its average volume of 6,125,779. The firm has a market capitalization of $43.28 billion, a PE ratio of 10.10, a PEG ratio of 1.94 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average price of $95.48 and a 200 day moving average price of $115.23. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate 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 net margin of 4.06% and a return on equity of 31.11%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 EPS. On average, equities research analysts forecast that Target Co. 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. Shareholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.70%. Target's dividend payout ratio is presently 50.11%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of analyst reports. Royal Bank of Canada reduced their target price 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. Oppenheimer reduced their target price on shares of Target from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Truist Financial boosted their target price on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, May 22nd. BMO Capital Markets reduced their target price on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Thursday, May 22nd. Finally, Baird R W lowered shares of Target from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $116.70.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction that occurred 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 now directly owns 246,453 shares of the company's stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company's stock.

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.