M&T Bank Corp lessened its stake in Target Corporation (NYSE:TGT - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 398,929 shares of the retailer's stock after selling 24,142 shares during the period. M&T Bank Corp owned about 0.09% of Target worth $41,632,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Norges Bank acquired a new position in Target in the fourth quarter worth $757,892,000. Ameriprise Financial Inc. boosted its holdings in Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after purchasing an additional 1,506,275 shares during the period. FMR LLC boosted its holdings in Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after purchasing an additional 1,358,348 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Target in the fourth quarter worth $182,882,000. Finally, Capital World Investors boosted its holdings in Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock worth $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. Institutional investors own 79.73% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on TGT shares. JPMorgan Chase & Co. lifted their target price on Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price objective on Target and gave the company a "market perform" rating in a research report on Thursday, May 22nd. Baird R W downgraded Target from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Evercore ISI reduced their price target on shares of Target from $130.00 to $120.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Finally, Robert W. Baird set a $100.00 price target on shares of Target in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Target currently has a consensus rating of "Hold" and a consensus price target of $116.70.
View Our Latest Report on Target
Target Price Performance
NYSE TGT traded up $0.41 on Tuesday, reaching $102.01. The company's stock had a trading volume of 6,099,063 shares, compared to its average volume of 6,258,372. Target Corporation has a twelve month low of $87.35 and a twelve 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 cap of $46.35 billion, a PE ratio of 11.21, a PEG ratio of 2.98 and a beta of 1.22. The firm's 50 day moving average is $97.15 and its two-hundred day moving average is $111.28.
Target (NYSE:TGT - Get Free Report) last released its quarterly 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). The company 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%. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.03 EPS. As a group, sell-side analysts predict that Target Corporation will post 8.69 EPS for the current year.
Target Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.39%. Target's dividend payout ratio is currently 49.23%.
Insider Activity 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 transaction of $4,328,100.00. Following the transaction, the insider directly owned 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.
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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