Target Corporation (NYSE:TGT) Stake Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 306.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,513 shares of the retailer's stock after acquiring an additional 130,078 shares during the quarter. Teacher Retirement System of Texas' holdings in Target were worth $18,003,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Nicholas Company Inc. raised its holdings in shares of Target by 20.5% during the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer's stock worth $7,544,000 after acquiring an additional 9,485 shares in the last quarter. DSG Capital Advisors LLC raised its stake in shares of Target by 16.1% during the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after purchasing an additional 21,726 shares in the last quarter. River Road Asset Management LLC lifted its holdings in shares of Target by 144.9% during the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer's stock valued at $31,699,000 after buying an additional 138,751 shares during the last quarter. Sierra Summit Advisors LLC lifted its holdings in shares of Target by 29.0% during the 4th quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer's stock valued at $1,940,000 after buying an additional 3,231 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Target in the 4th quarter valued at approximately $6,459,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business's 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 completion of the transaction, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company's stock.

Target Stock Performance

Shares of TGT stock opened at $104.17 on Friday. The business's 50-day moving average price is $97.05 and its 200-day moving average price is $111.76. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40. The firm has a market capitalization of $47.33 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.98 and a beta of 1.22. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96.

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

Target Dividend Announcement

The business 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 $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Wednesday, August 13th. Target's payout ratio is currently 49.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Baird R W lowered Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Sanford C. Bernstein downgraded Target from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $97.00 to $82.00 in a research note on Monday, May 12th. Mizuho reduced their target price on Target from $92.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Barclays initiated coverage on Target in a report on Thursday, May 22nd. They set an "equal weight" rating on the stock. Finally, Truist Financial lifted their price target on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Target has an average rating of "Hold" and a consensus price target of $116.70.

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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