Level Four Advisory Services LLC Grows Holdings in Target Corporation $TGT

Key Points

• Level Four Advisory Services LLC increased its holdings in Target Corporation by 46.6% during the first quarter, owning 39,752 shares valued at approximately $4.15 million.
• Insider Brian C. Cornell sold 45,000 shares of Target stock for $4.33 million, representing a 15.44% decrease in his position, leaving him with 246,453 shares valued at about $23.7 million.
• Target announced a quarterly dividend of $1.12 per share, which will be paid on September 1st, resulting in an annualized dividend yield of 4.5% based on a 50.11% payout ratio.

Level Four Advisory Services LLC lifted its holdings in Target Corporation (NYSE:TGT - Free Report) by 46.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,752 shares of the retailer's stock after buying an additional 12,628 shares during the quarter. Level Four Advisory Services LLC's holdings in Target were worth $4,149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. Charles Schwab Investment Management Inc. grew its position in shares of Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after buying an additional 12,825,586 shares during the period. Pacer Advisors Inc. grew its position in shares of Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock worth $343,312,000 after buying an additional 3,065,035 shares during the period. Nuveen LLC purchased a new stake in shares of Target in the 1st quarter worth about $186,361,000. Ameriprise Financial Inc. grew its position in shares of Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after buying an additional 1,506,275 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock worth $560,420,000 after purchasing an additional 1,406,653 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

TGT has been the topic of a number of analyst reports. Royal Bank Of Canada upped their price target on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday. Wall Street Zen upgraded shares of Target from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Mizuho dropped their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Evercore ISI dropped their price target on shares of Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target 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. Ten analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $113.74.

Target Stock Performance

NYSE:TGT traded up $1.9280 during mid-day trading on Friday, reaching $98.9880. The company's stock had a trading volume of 13,658,170 shares, compared to its average volume of 7,152,688. Target Corporation has a 12-month low of $87.35 and a 12-month high of $161.84. The firm's fifty day moving average price is $102.06 and its two-hundred day moving average price is $103.64. The company has a current ratio of 0.99, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a market cap of $44.98 billion, a P/E ratio of 11.54, a PEG ratio of 2.86 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same quarter in the previous year, the firm earned $2.57 EPS. Target's revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.5%. Target's dividend payout ratio is presently 53.15%.

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.