Blueshift Asset Management LLC Has $1.13 Million Stock Position in Target Corporation (NYSE:TGT)

Key Points

• Blueshift Asset Management LLC reduced its stake in Target Corporation by 45.4% in the first quarter, decreasing its holdings to 10,805 shares valued at approximately $1.13 million.
• Target announced a quarterly dividend of $1.12 per share, reflecting a 4.5% dividend yield and a payout ratio of 50.11%.
• The company reported earnings of $1.30 per share, missing estimates by $0.35, with quarterly revenue of $24.20 billion, down 2.8% year-over-year.

Blueshift Asset Management LLC reduced its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 45.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,805 shares of the retailer's stock after selling 8,990 shares during the period. Blueshift Asset Management LLC's holdings in Target were worth $1,128,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TGT. Pacer Advisors Inc. grew its holdings in Target by 1,364.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock worth $343,312,000 after acquiring an additional 3,065,035 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after buying an additional 1,506,275 shares during the period. FMR LLC boosted its holdings in shares of Target by 13.6% in the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock valued at $1,532,769,000 after buying an additional 1,358,348 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at about $182,882,000. Finally, Capital World Investors boosted its holdings in shares of Target by 6.3% in the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after buying an additional 1,306,552 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Down 0.7%

TGT traded down $0.75 on Friday, reaching $99.75. 5,020,123 shares of the company traded hands, compared to its average volume of 4,692,105. The stock's 50 day moving average price is $99.94 and its 200-day moving average price is $107.17. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The company has a market cap of $45.32 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 2.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25.

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

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.5%. Target's payout ratio is 49.23%.

Insider Transactions at Target

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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

TGT has been the subject of several research reports. Loop Capital set a $95.00 price target on shares of Target in a report on Thursday, July 17th. Robert W. Baird set a $100.00 price target on shares of Target in a report on Thursday, May 22nd. Guggenheim decreased their price target on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Royal Bank Of Canada cut their price objective on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Finally, Barclays reiterated an "underweight" rating and issued a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Two analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $115.65.

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.