Target Corporation (NYSE:TGT) Shares Sold by Conning Inc.

Conning Inc. decreased its holdings in Target Corporation (NYSE:TGT - Free Report) by 56.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,483 shares of the retailer's stock after selling 5,884 shares during the quarter. Conning Inc.'s holdings in Target were worth $468,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Hopwood Financial Services Inc. acquired a new position in shares of Target during the 4th quarter worth approximately $29,000. Bernard Wealth Management Corp. purchased a new stake in Target in the 4th quarter worth $29,000. Legacy Investment Solutions LLC raised its position in Target by 47.5% during the fourth 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 Target during the fourth quarter worth $36,000. Finally, Heck Capital Advisors LLC purchased a new position in Target during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Down 1.2%

Shares of NYSE TGT opened at $104.17 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The business's 50 day moving average is $97.05 and its two-hundred day moving average is $111.76. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The firm has a market cap of $47.33 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.98 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 (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. During the same quarter in the prior year, the firm posted $2.03 EPS. Target's quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is 49.23%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Target from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Stifel Nicolaus decreased their target price on Target from $130.00 to $120.00 and set a "hold" rating on the stock in a research report on Thursday, March 20th. Baird R W lowered Target from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. BMO Capital Markets reduced their price objective on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Thursday, May 22nd. Finally, Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $116.70.

Insider Buying and Selling 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 sale, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company's stock.

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.

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