Nisa Investment Advisors LLC Reduces Stock Position in Target Corporation (NYSE:TGT)

Nisa Investment Advisors LLC reduced its stake in Target Corporation (NYSE:TGT - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,229 shares of the retailer's stock after selling 2,529 shares during the quarter. Nisa Investment Advisors LLC's holdings in Target were worth $17,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after acquiring an additional 3,059 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Target by 74.3% in the fourth quarter. Proficio Capital Partners LLC now owns 4,480 shares of the retailer's stock worth $606,000 after buying an additional 1,910 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Target by 6.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 63,780 shares of the retailer's stock worth $8,622,000 after buying an additional 3,937 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of Target by 4.8% in the fourth quarter. Johnson Investment Counsel Inc. now owns 13,230 shares of the retailer's stock worth $1,788,000 after buying an additional 602 shares during the period. Finally, Sage Mountain Advisors LLC increased its stake in shares of Target by 13.4% in the fourth quarter. Sage Mountain Advisors LLC now owns 4,785 shares of the retailer's stock worth $647,000 after buying an additional 567 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

TGT has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Baird R W downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Piper Sandler set a $94.00 price objective on shares of Target and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Evercore ISI reduced their price objective on shares of Target from $130.00 to $120.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Finally, Mizuho reduced their price objective on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Target presently has an average rating of "Hold" and an average price target of $116.70.

Target Stock Performance

Shares of NYSE TGT traded down $0.66 during midday trading on Friday, hitting $104.08. 2,035,541 shares of the company's stock traded hands, compared to its average volume of 7,227,732. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The stock has a market capitalization of $47.29 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 2.93 and a beta of 1.22. 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 fifty day moving average of $97.55 and a 200 day moving average of $110.97.

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

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued 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 dividend payout ratio (DPR) is presently 49.23%.

Target Company 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.