Correct Capital Wealth Management Acquires 4,189 Shares of Target Corporation (NYSE:TGT)

Correct Capital Wealth Management lifted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 44.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,556 shares of the retailer's stock after acquiring an additional 4,189 shares during the period. Correct Capital Wealth Management's holdings in Target were worth $1,415,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Target in the 4th quarter worth about $757,892,000. Ameriprise Financial Inc. raised its holdings in shares of 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 during the period. FMR LLC raised its holdings in shares of 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 during the period. Castlekeep Investment Advisors LLC purchased a new position in shares of Target in the 4th quarter worth about $182,882,000. Finally, Capital World Investors raised its holdings in shares of 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 during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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 dated 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 owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on TGT shares. Citigroup cut their price objective on Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Barclays started coverage on Target in a report on Thursday, May 22nd. They set an "equal weight" rating on the stock. Robert W. Baird set a $100.00 target price on Target in a report on Thursday, May 22nd. DA Davidson lowered their price objective on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Finally, Mizuho lowered their price objective on Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. One investment 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $116.70.

Target Stock Down 0.5%

NYSE TGT traded down $0.48 on Friday, reaching $104.26. The stock had a trading volume of 3,863,821 shares, compared to its average volume of 6,283,549. The business has a 50 day moving average price of $97.69 and a 200 day moving average price of $110.78. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The company has a market capitalization of $47.37 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 3.00 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last issued its 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). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. During the same quarter last year, the firm earned $2.03 EPS. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.30%. Target's dividend payout ratio is currently 49.23%.

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.