Harvest Investment Advisors LLC Has $1.43 Million Stock Holdings in Target Corporation (NYSE:TGT)

Key Points

• Harvest Investment Advisors LLC increased its holdings in Target Corporation (NYSE:TGT) by 30.3% during Q1, now owning 13,719 shares valued at $1.43 million.
• Several large investors modified their positions in Target, with Virtu Financial LLC acquiring a new position worth approximately $3.75 million.
• Target's recent earnings report showed an EPS of $1.30, falling short of estimates, and the company plans to pay a quarterly dividend of $1.12 on September 1st.

Harvest Investment Advisors LLC increased its stake in Target Corporation (NYSE:TGT - Free Report) by 30.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,719 shares of the retailer's stock after purchasing an additional 3,194 shares during the quarter. Harvest Investment Advisors LLC's holdings in Target were worth $1,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. DSG Capital Advisors LLC increased its position in Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after buying an additional 21,726 shares during the period. Viking Fund Management LLC increased its position in Target by 20.0% in the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock worth $6,262,000 after buying an additional 10,000 shares during the period. Correct Capital Wealth Management increased its position in Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock worth $1,415,000 after buying an additional 4,189 shares during the period. Chapin Davis Inc. increased its position in Target by 64.7% in the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock worth $888,000 after buying an additional 3,342 shares during the period. Finally, CMH Wealth Management LLC increased its position in Target by 31.5% in the 1st quarter. CMH Wealth Management LLC now owns 61,420 shares of the retailer's stock worth $6,410,000 after buying an additional 14,719 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Target stock traded up $2.28 on Tuesday, reaching $106.29. The company's stock had a trading volume of 6,547,244 shares, compared to its average volume of 4,937,121. 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 company has a market cap of $48.29 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.99 and a beta of 1.22. The business's fifty day moving average price is $101.22 and its 200 day moving average price is $105.64. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same period in the prior year, the firm posted $2.03 EPS. Target's revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal 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 paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is 49.23%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction 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 transaction, the insider owned 246,453 shares of the company's stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

TGT has been the topic of several recent analyst reports. Wall Street Zen downgraded Target from a "hold" rating to a "sell" rating in a research report on Saturday. The Goldman Sachs Group dropped their price target on Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Evercore ISI boosted their price objective on Target from $104.00 to $108.00 and gave the company an "in-line" rating in a research report on Tuesday. Sanford C. Bernstein cut Target from a "market perform" rating to an "underperform" rating and lowered their price objective for the company from $97.00 to $82.00 in a research report on Monday, May 12th. Finally, Royal Bank Of Canada lowered their price objective on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $115.26.

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.