Correct Capital Wealth Management Buys 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% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,556 shares of the retailer's stock after buying 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.

A number of other hedge funds have also made changes to their positions in the stock. Capital World Investors lifted its stake in Target by 6.3% during the fourth 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 last quarter. FMR LLC raised its holdings in shares of Target by 13.6% during the fourth 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. Geode Capital Management LLC raised its holdings in shares of Target by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer's stock worth $1,332,317,000 after purchasing an additional 470,990 shares during the period. Norges Bank acquired a new stake in shares of Target during the fourth quarter worth $757,892,000. Finally, Northern Trust Corp grew its position in shares of Target by 16.3% during the 4th quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock valued at $726,814,000 after buying an additional 754,883 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Trading Down 0.4%

TGT traded down $0.38 during trading on Friday, reaching $104.36. The company had a trading volume of 2,351,901 shares, compared to its average volume of 7,230,175. The firm's 50-day simple moving average is $97.55 and its 200 day simple moving average is $110.97. The company has a market cap of $47.42 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 2.93 and a beta of 1.22. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT - Get Free Report) last announced its 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). The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 earnings per share. Equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.29%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is currently 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 transaction of $4,328,100.00. Following the transaction, the insider owned 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TGT has been the subject of a number of research reports. Baird R W downgraded Target from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Evercore ISI dropped their target price on Target from $130.00 to $120.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. BMO Capital Markets lowered their price target on shares of Target from $100.00 to $95.00 and set a "market perform" 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 research note on Tuesday, April 22nd. Finally, Robert W. Baird set a $100.00 target price on shares of Target in a research note on Thursday, May 22nd. 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $116.70.

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.