TCW Group Inc. Sells 158,846 Shares of Target Corporation (NYSE:TGT)

Key Points

• TCW Group Inc. significantly reduced its holdings in Target Corporation by 86.2% in the first quarter, selling 158,846 shares and leaving them with only 25,407 shares valued at approximately $2.65 million.
• JPMorgan raised its price target for Target from $105 to $109 while Goldman Sachs lowered theirs from $101 to $90, indicating mixed sentiments among analysts about the stock.
• Target announced a quarterly dividend of $1.12 per share, with an annualized dividend yield of 4.23%, set to be paid on September 1st.

TCW Group Inc. lowered its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 86.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,407 shares of the retailer's stock after selling 158,846 shares during the quarter. TCW Group Inc.'s holdings in Target were worth $2,651,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Target in the 4th quarter worth about $29,000. Legacy Investment Solutions LLC grew its stake in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after acquiring an additional 85 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Target during the fourth quarter worth approximately $40,000. Atwood & Palmer Inc. raised its stake in shares of Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after acquiring an additional 352 shares in the last quarter. Finally, Abound Financial LLC bought a new position in Target in the first quarter worth approximately $43,000. 79.73% of the stock is currently owned by institutional investors.

Insider Activity at Target

In related 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 transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TGT shares. JPMorgan Chase & Co. increased their price target on Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group dropped their target price on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on shares of Target in a research note on Thursday, May 22nd. Wells Fargo & Company lowered their target price on Target from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, Truist Financial lifted their target price on Target from $82.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, May 22nd. Two research 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 an average rating of "Hold" and a consensus target price of $115.65.

Target Stock Performance

NYSE TGT opened at $106.03 on Monday. 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 Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The stock has a 50-day moving average of $99.22 and a 200 day moving average of $108.18. The stock has a market capitalization of $48.18 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 3.03 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last announced 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). Target had a net margin of 3.95% and a return on equity of 25.59%. The business had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. During the same quarter last year, the business earned $2.03 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

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 given a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.23%. Target's dividend payout ratio (DPR) is 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.

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