Target Corporation (NYSE:TGT) Shares Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in Target Corporation by 32.2%, acquiring an additional 2,693 shares, bringing their total to 11,057 shares valued at approximately $1.15 million.
• Target's most recent earnings report showed a missed earnings per share estimate of $1.30 compared to the consensus of $1.65, with a quarterly revenue of $24.20 billion, which was also below expectations.
• The company recently announced a quarterly dividend of $1.12 per share, which represents an annualized yield of 4.3% and a payout ratio of 50.11%.

Townsquare Capital LLC grew its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 32.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,057 shares of the retailer's stock after purchasing an additional 2,693 shares during the period. Townsquare Capital LLC's holdings in Target were worth $1,154,000 at the end of the most recent reporting period.

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 4th quarter worth approximately $29,000. Heck Capital Advisors LLC acquired a new stake in shares of Target in the 4th quarter worth approximately $40,000. Bellwether Advisors LLC acquired a new stake in shares of Target in the 4th quarter worth approximately $47,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Target in the 4th quarter worth approximately $49,000. Finally, Atwood & Palmer Inc. grew 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 worth $41,000 after acquiring an additional 352 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Trading Down 1.0%

Shares of TGT opened at $105.22 on Thursday. 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 firm has a market capitalization of $47.81 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 3.05 and a beta of 1.22. The stock's fifty day simple moving average is $101.44 and its 200 day simple moving average is $105.64. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40.

Target (NYSE:TGT - Get Free Report) last issued its 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 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 quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.03 earnings per share. On average, equities research analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.3%. Target's dividend payout ratio (DPR) is 50.11%.

Insider Buying and Selling

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 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 of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup lowered their price target on Target from $97.00 to $94.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Bank of America cut Target from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $145.00 to $105.00 in a report on Thursday, May 22nd. Guggenheim lowered their price target on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Wall Street Zen cut Target from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada lowered their target price on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $115.81.

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.

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

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.