Venturi Wealth Management LLC lifted its stake in Target Corporation (NYSE:TGT - Free Report) by 361.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,900 shares of the retailer's stock after buying an additional 8,536 shares during the period. Venturi Wealth Management LLC's holdings in Target were worth $1,138,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Target during the 4th quarter worth approximately $757,892,000. Ameriprise Financial Inc. grew its holdings in shares of Target by 61.2% during the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after acquiring an additional 1,506,275 shares during the period. FMR LLC grew its holdings in shares of Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after acquiring an additional 1,358,348 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Target in the 4th quarter worth approximately $182,882,000. Finally, Capital World Investors lifted its position in Target by 6.3% in the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after acquiring an additional 1,306,552 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.
Insider Transactions at Target
In other Target news, insider Brian C. Cornell sold 45,000 shares of the 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 sale, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms recently issued reports on TGT. 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. Baird R W lowered Target from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Robert W. Baird set a $100.00 price objective on Target in a research note on Thursday, May 22nd. Morgan Stanley reduced their price objective on Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $115.65.
Read Our Latest Analysis on Target
Target Price Performance
NYSE TGT traded up $0.21 during trading hours on Friday, hitting $106.03. 3,468,072 shares of the company's stock traded hands, compared to its average volume of 5,096,651. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The company has a market capitalization of $48.18 billion, a PE ratio of 11.65, a PEG ratio of 3.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The firm's 50-day moving average is $99.22 and its 200-day moving average is $108.39.
Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. Target's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.03 earnings per share. Equities analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.
Target Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.23%. Target's dividend payout ratio (DPR) is presently 49.23%.
Target Company Profile
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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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