Target Corporation (NYSE:TGT) Shares Purchased by Hedges Asset Management LLC

Hedges Asset Management LLC increased its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 50.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,600 shares of the retailer's stock after buying an additional 3,550 shares during the quarter. Hedges Asset Management LLC's holdings in Target were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its position in shares of Target by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer's stock worth $3,603,000 after purchasing an additional 76 shares during the period. Fiducient Advisors LLC raised its holdings in shares of Target by 4.6% during the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock valued at $240,000 after purchasing an additional 78 shares in the last quarter. Napatree Capital LLC lifted its stake in shares of Target by 2.4% in the 4th quarter. Napatree Capital LLC now owns 3,609 shares of the retailer's stock valued at $488,000 after purchasing an additional 85 shares during the last quarter. Legacy Investment Solutions LLC boosted its holdings in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC increased its position in Target by 0.3% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock worth $3,875,000 after buying an additional 85 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Target

In related 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 transaction, the insider now owns 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Target Price Performance

Shares of TGT stock opened at $97.64 on Friday. The firm's 50 day moving average price is $96.04 and its two-hundred day moving average price is $113.06. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The stock has a market cap of $44.36 billion, a PE ratio of 10.73, a PEG ratio of 2.78 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $24.54 billion. During the same period last year, the company earned $2.03 EPS. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts forecast that Target Corporation will post 8.69 EPS for the current 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 issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is currently 49.23%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TGT shares. BMO Capital Markets reduced their price target on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. DA Davidson reduced their target price on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. UBS Group reduced their target price on shares of Target from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, KGI Securities set a $132.00 price target on shares of Target in a research report on Wednesday, March 5th. One equities research 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.com, Target has an average rating of "Hold" and an average target price of $116.70.

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.

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