Rhumbline Advisers Has $90.32 Million Position in Target Co. (NYSE:TGT)

Rhumbline Advisers lessened its position in shares of Target Co. (NYSE:TGT - Free Report) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 865,469 shares of the retailer's stock after selling 91,286 shares during the period. Rhumbline Advisers owned 0.19% of Target worth $90,320,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nicholas Company Inc. increased its holdings in shares of Target by 20.5% in the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer's stock worth $7,544,000 after buying an additional 9,485 shares during the last quarter. River Road Asset Management LLC grew its position in shares of Target by 144.9% in the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer's stock worth $31,699,000 after buying an additional 138,751 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Target during the 4th quarter valued at $6,459,000. Sierra Summit Advisors LLC lifted its holdings in Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer's stock worth $1,940,000 after buying an additional 3,231 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer's stock valued at $2,430,000 after purchasing an additional 3,590 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Trading Up 0.7%

NYSE TGT traded up $0.65 on Thursday, hitting $94.59. 1,493,531 shares of the stock were exchanged, compared to its average volume of 7,406,690. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40. The company has a market capitalization of $42.98 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company's 50-day moving average price is $95.60 and its two-hundred day moving average price is $117.00.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same period in the previous year, the firm posted $2.03 EPS. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Wednesday, May 14th. Target's payout ratio is presently 49.23%.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The stock was 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 approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of analyst reports. DA Davidson decreased their target price on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. KGI Securities set a $132.00 target price on shares of Target in a report on Wednesday, March 5th. Gordon Haskett lowered shares of Target from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Sanford C. Bernstein downgraded shares of 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 report on Monday, May 12th. Finally, Truist Financial increased their price objective on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Target presently has an average rating of "Hold" and an average price target of $116.70.

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.