NorthCrest Asset Manangement LLC Decreases Stock Holdings in Target Co. (NYSE:TGT)

NorthCrest Asset Manangement LLC cut its stake in shares of Target Co. (NYSE:TGT - Free Report) by 28.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,147 shares of the retailer's stock after selling 2,912 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Target were worth $966,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in shares of Target in the fourth quarter worth about $29,000. Bernard Wealth Management Corp. acquired a new position in shares of Target in the fourth quarter worth about $29,000. Legacy Investment Solutions LLC raised its position in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after acquiring an additional 85 shares during the period. OFI Invest Asset Management acquired a new position in shares of Target in the fourth quarter worth about $36,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Target in the fourth quarter worth about $39,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on TGT shares. Piper Sandler set a $94.00 price objective on Target and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Truist Financial lifted their price target on Target from $82.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday, May 22nd. Stifel Nicolaus cut their price objective on shares of Target from $130.00 to $120.00 and set a "hold" rating for the company in a report on Thursday, March 20th. Cfra Research downgraded shares of Target from a "moderate buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Oppenheimer cut their price objective on shares of Target from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $116.68.

Target Stock Down 0.9%

NYSE:TGT traded down $0.90 during midday trading on Friday, hitting $93.97. 7,867,613 shares of the company were exchanged, compared to its average volume of 6,034,261. The company has a fifty day simple moving average of $96.26 and a 200 day simple moving average of $118.22. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $42.70 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $24.54 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. Target's revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.77%. Target's dividend payout ratio is presently 49.23%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target 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 transaction, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently 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.