Jefferies Financial Group Inc. lowered its position in shares of Target Corporation (NYSE:TGT - Free Report) by 80.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,363 shares of the retailer's stock after selling 33,730 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Target were worth $873,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after acquiring an additional 3,059 shares during the period. Wellington Management Group LLP increased its stake in shares of Target by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer's stock valued at $7,622,000 after purchasing an additional 6,253 shares in the last quarter. Titleist Asset Management LLC lifted its holdings in shares of Target by 53.3% during the fourth quarter. Titleist Asset Management LLC now owns 2,014 shares of the retailer's stock valued at $272,000 after purchasing an additional 700 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Target during the fourth quarter valued at approximately $208,000. Finally, Invesco Ltd. boosted its position in shares of Target by 16.5% in the 4th quarter. Invesco Ltd. now owns 2,737,638 shares of the retailer's stock worth $370,074,000 after purchasing an additional 387,143 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.
Target Price Performance
Shares of TGT traded up $3.01 during mid-day trading on Wednesday, reaching $105.44. The stock had a trading volume of 6,303,788 shares, compared to its average volume of 4,874,617. The business has a fifty day moving average of $100.16 and a 200 day moving average of $106.72. 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 firm has a market cap of $47.91 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 2.93 and a beta of 1.22. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40.
Target (NYSE:TGT - Get Free Report) last released its 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 firm had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. During the same quarter last year, the firm posted $2.03 EPS. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts predict that Target Corporation will post 8.69 EPS for the current year.
Target Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.2%. Target's dividend payout ratio (DPR) is currently 49.23%.
Insider Activity
In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on TGT shares. Sanford C. Bernstein downgraded Target from a "market perform" rating to an "underperform" rating and reduced their price target for the company from $97.00 to $82.00 in a report on Monday, May 12th. Piper Sandler reaffirmed a "neutral" rating on shares of Target in a report on Tuesday, July 29th. Royal Bank Of Canada cut their price target on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, DA Davidson lowered their price objective on Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $115.65.
Check Out Our Latest Stock Analysis on TGT
About Target
(
Free Report)
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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