Target Corporation (NYSE:TGT) Shares Purchased by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd increased its holdings in Target Corporation by 48.1% during the first quarter, owning 11,400 shares valued at approximately $1,190,000.
• Target reported quarterly earnings of $1.30 per share, missing analysts' expectations of $1.65, with revenue down 2.8% compared to the same quarter last year.
• The company declared a quarterly dividend of $1.12 per share, reflecting an annualized dividend yield of 4.5%.

Maxi Investments CY Ltd increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 48.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,400 shares of the retailer's stock after buying an additional 3,700 shares during the quarter. Maxi Investments CY Ltd's holdings in Target were worth $1,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TGT. Bernard Wealth Management Corp. acquired a new position in shares of Target in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC raised its position in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after buying an additional 85 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Target in the 4th quarter worth $40,000. Atwood & Palmer Inc. boosted its holdings in shares of Target by 951.4% in the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after acquiring an additional 352 shares in the last quarter. Finally, Abound Financial LLC acquired a new position in shares of Target during the first quarter worth about $43,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the 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 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 accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their price objective 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. The Goldman Sachs Group reduced their price target on Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Mizuho dropped their price objective on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Loop Capital set a $95.00 target price on Target in a report on Thursday, July 17th. Finally, Barclays reaffirmed an "underweight" rating and set a $91.00 price target on shares of Target in a research note on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $115.65.

Target Trading Up 2.9%

Shares of NYSE TGT traded up $3.01 during midday trading on Wednesday, reaching $105.44. 6,303,788 shares of the stock were exchanged, compared to its average volume of 4,874,617. The stock has a 50 day moving average price of $100.16 and a 200-day moving average price of $106.72. 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 company has a market capitalization of $47.91 billion, a P/E ratio of 11.59, a P/E/G ratio of 2.93 and a beta of 1.22. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40.

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

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is presently 49.23%.

Target Company 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.