Target Corporation (NYSE:TGT) Shares Bought by Burney Co.

Burney Co. increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 555.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,190 shares of the retailer's stock after buying an additional 46,774 shares during the quarter. Burney Co.'s holdings in Target were worth $5,760,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TGT. Bernard Wealth Management Corp. bought a new stake in shares of Target in the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC grew its stake in Target by 47.5% in the fourth 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 acquired a new position in shares of Target during the fourth quarter worth about $40,000. Bellwether Advisors LLC acquired a new position in shares of Target during the fourth quarter worth about $47,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Target during the fourth quarter valued at approximately $49,000. Institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

TGT has been the subject of a number of research analyst reports. Barclays reaffirmed an "underweight" rating and issued a $91.00 target price on shares of Target in a research report on Monday. Baird R W lowered shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. BMO Capital Markets cut their target price 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. Morgan Stanley dropped their target price on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, Guggenheim decreased their target price on shares of Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $115.65.

Insider Buying and Selling

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 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 $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Target Price Performance

Shares of TGT opened at $106.79 on Wednesday. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The stock's 50 day moving average is $98.47 and its two-hundred day moving average is $109.31. The firm has a market capitalization of $48.52 billion, a PE ratio of 11.74, a P/E/G ratio of 2.91 and a beta of 1.22. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The company had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. The firm's quarterly revenue was down 2.8% on a year-over-year basis. Research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

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 issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 50.11%.

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.

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