Target Corporation (NYSE:TGT) Shares Bought by Banco Santander S.A.

Key Points

• Banco Santander S.A. has increased its stake in Target Corporation by 70.6%, owning nearly 15,000 shares valued at approximately $1.56 million.
• Target reported earnings per share of $1.30 for the latest quarter, missing expectations by $0.35, with revenue dropping 2.8% year-over-year.
• The company announced a quarterly dividend of $1.12 per share, reflecting a 4.5% dividend yield, payable on September 1st.

Banco Santander S.A. boosted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 70.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,986 shares of the retailer's stock after buying an additional 6,201 shares during the period. Banco Santander S.A.'s holdings in Target were worth $1,564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new position in Target during the fourth quarter worth $29,000. Legacy Investment Solutions LLC lifted its stake 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 purchasing an additional 85 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at $40,000. Atwood & Palmer Inc. lifted its stake 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 purchasing an additional 352 shares during the last quarter. Finally, Abound Financial LLC acquired a new position in shares of Target in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Trading Down 0.7%

TGT opened at $99.75 on Monday. Target Corporation has a one year low of $87.35 and a one year high of $167.40. The company has a market cap of $45.32 billion, a P/E ratio of 10.96, a PEG ratio of 2.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The business's 50-day simple moving average is $99.94 and its 200-day simple moving average is $106.99.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 25.59% and a net margin of 3.95%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 EPS. As a group, equities research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business 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 $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is 49.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. DA Davidson decreased their price target on Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Royal Bank Of Canada decreased their price target on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Baird R W lowered Target from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Loop Capital set a $95.00 price target on Target in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $115.65.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.

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.