Legacy Capital Wealth Partners LLC Purchases 3,938 Shares of Target Corporation (NYSE:TGT)

Legacy Capital Wealth Partners LLC grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 235.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,608 shares of the retailer's stock after purchasing an additional 3,938 shares during the period. Legacy Capital Wealth Partners LLC's holdings in Target were worth $585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after acquiring an additional 3,059 shares during the period. Proficio Capital Partners LLC increased its holdings in Target by 74.3% during the 4th quarter. Proficio Capital Partners LLC now owns 4,480 shares of the retailer's stock worth $606,000 after acquiring an additional 1,910 shares during the period. Harbour Investments Inc. increased its holdings in Target by 11.4% during the 4th quarter. Harbour Investments Inc. now owns 8,180 shares of the retailer's stock worth $1,106,000 after acquiring an additional 835 shares during the period. Advisors Asset Management Inc. increased its holdings in Target by 2.9% during the 4th quarter. Advisors Asset Management Inc. now owns 24,075 shares of the retailer's stock worth $3,254,000 after acquiring an additional 675 shares during the period. Finally, Horizon Investments LLC increased its holdings in Target by 3.1% during the 4th quarter. Horizon Investments LLC now owns 17,292 shares of the retailer's stock worth $2,338,000 after acquiring an additional 518 shares during the period. Institutional investors own 79.73% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TGT shares. The Goldman Sachs Group decreased their target price on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Citigroup decreased their target price on shares of Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Cfra Research cut shares of Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Bank of America cut shares of Target from a "buy" rating to a "neutral" rating and cut their price target for the stock from $145.00 to $105.00 in a research note on Thursday, May 22nd. Finally, Wall Street Zen cut shares of Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $116.00.

Target Trading Down 0.2%

TGT traded down $0.25 during trading on Friday, hitting $103.40. 5,280,800 shares of the stock traded hands, compared to its average volume of 6,285,428. The firm has a market capitalization of $46.98 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 2.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a 50-day moving average of $98.33 and a 200 day moving average of $109.90. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40.

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

Target Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.33%. Target's dividend payout ratio is currently 49.23%.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider directly owned 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.