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Target Corporation (NYSE:TGT) Shares Acquired by Correct Capital Wealth Management

Target logo with Retail/Wholesale background

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

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hopwood Financial Services Inc. purchased a new stake in Target during the 4th quarter worth $29,000. Bernard Wealth Management Corp. purchased a new stake in Target during the 4th quarter worth $29,000. Legacy Investment Solutions LLC increased its position in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Target in the 4th quarter worth about $40,000. Finally, Atwood & Palmer Inc. increased its position in shares of Target by 951.4% in the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. DA Davidson dropped their target price on shares of Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen lowered shares of Target from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Barclays assumed coverage on shares of Target in a report on Thursday, May 22nd. They issued an "equal weight" rating for the company. BMO Capital Markets decreased their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a report on Thursday, May 22nd. Finally, Guggenheim reduced their target price on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Target presently has a consensus rating of "Hold" and an average target price of $116.70.

View Our Latest Stock Analysis on Target

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of Target 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Target Trading Up 1.3%

Shares of Target stock opened at $103.78 on Thursday. The firm has a market cap of $47.15 billion, a PE ratio of 11.34, a PEG ratio of 2.92 and a beta of 1.22. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The company has a 50 day simple moving average of $97.37 and a two-hundred day simple moving average of $111.16. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business's revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. Analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

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 $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is presently 49.23%.

Target Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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