Correct Capital Wealth Management raised its position in shares of Target Corporation (NYSE:TGT - Free Report) by 44.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,556 shares of the retailer's stock after purchasing 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 filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in shares of Target in the 4th quarter valued at $29,000. Bernard Wealth Management Corp. purchased a new position in shares of Target in the 4th quarter valued at $29,000. Legacy Investment Solutions LLC increased its holdings in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after acquiring an additional 85 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Target in the 4th quarter valued at $40,000. Finally, Atwood & Palmer Inc. increased its holdings in shares of Target by 951.4% in the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after acquiring an additional 352 shares during the period. 79.73% of the stock is owned by institutional investors.
Target Trading Up 2.3%
Target stock traded up $2.40 during mid-day trading on Thursday, hitting $104.83. The company's stock had a trading volume of 5,102,332 shares, compared to its average volume of 6,272,568. The firm has a market capitalization of $47.63 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 2.93 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 current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The stock's fifty day moving average is $97.37 and its two-hundred day moving average is $111.16.
Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The company's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 earnings per share. On average, analysts anticipate that Target Corporation will post 8.69 EPS for the current year.
Target Dividend Announcement
The company also recently declared 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 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is 49.23%.
Insider Buying and Selling
In other Target news, insider Brian C. Cornell sold 45,000 shares of the company's 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 directly owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Mizuho dropped their target price on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Citigroup dropped their target price on Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Stifel Nicolaus dropped their target price on Target from $130.00 to $120.00 and set a "hold" rating on the stock in a research note on Thursday, March 20th. Sanford C. Bernstein downgraded Target from a "market perform" rating to an "underperform" rating and dropped their target price for the stock from $97.00 to $82.00 in a research note on Monday, May 12th. Finally, Robert W. Baird set a $100.00 target price on Target in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Target presently has an average rating of "Hold" and a consensus target price of $116.70.
Get Our Latest Stock Analysis on Target
About Target
(
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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