RBA Wealth Management LLC Increases Stock Position in Target Corporation (NYSE:TGT)

RBA Wealth Management LLC raised its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 327.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,836 shares of the retailer's stock after buying an additional 10,597 shares during the period. RBA Wealth Management LLC's holdings in Target were worth $1,444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Hopwood Financial Services Inc. bought a new position in shares of Target during the 4th quarter valued at $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter worth $29,000. Legacy Investment Solutions LLC raised its holdings in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after acquiring an additional 85 shares during the period. OFI Invest Asset Management acquired a new position in shares of Target during the fourth quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Target during the fourth quarter worth about $40,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TGT. Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Truist Financial lifted their target price on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, May 22nd. Baird R W lowered shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Stifel Nicolaus cut their price target on shares of Target from $130.00 to $120.00 and set a "hold" rating for the company in a report on Thursday, March 20th. Finally, Telsey Advisory Group set a $110.00 target price on shares of Target and gave the company a "market perform" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Target has an average rating of "Hold" and an average price target of $116.70.

Insider Buying and Selling

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 transaction, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

Target Trading Down 0.5%

Shares of NYSE:TGT traded down $0.46 during midday trading on Monday, hitting $98.77. 4,932,138 shares of the stock were exchanged, compared to its average volume of 6,201,496. The business's 50-day moving average price is $96.16 and its 200 day moving average price is $112.49. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40. 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 stock has a market capitalization of $44.88 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 2.85 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data 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 quarter in the previous year, the company earned $2.03 earnings per share. The business's revenue for the quarter was down 2.8% on a year-over-year basis. Analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.54%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is currently 49.23%.

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.