Target Corporation (NYSE:TGT) Stock Position Cut by Tempus Wealth Planning LLC

Key Points

• Tempus Wealth Planning LLC reduced its holdings in Target Corporation by 28.6% during the first quarter, now owning 8,396 shares valued at $876,000.
• Target's quarterly earnings report showed earnings per share of $1.30, missing the consensus estimate of $1.65, with a 2.8% decline in year-over-year revenue.
• The company declared a quarterly dividend of $1.12 per share, representing an annualized dividend yield of 4.23%.

Tempus Wealth Planning LLC decreased its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 28.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,396 shares of the retailer's stock after selling 3,362 shares during the period. Tempus Wealth Planning LLC's holdings in Target were worth $876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Kovack Advisors Inc. boosted its holdings in shares of Target by 3.8% during the 1st quarter. Kovack Advisors Inc. now owns 4,273 shares of the retailer's stock valued at $446,000 after purchasing an additional 157 shares during the last quarter. Machina Capital S.A.S. purchased a new position in shares of Target during the first quarter worth approximately $2,051,000. Burney Co. increased its position in shares of Target by 555.8% during the first quarter. Burney Co. now owns 55,190 shares of the retailer's stock worth $5,760,000 after acquiring an additional 46,774 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Target by 361.1% during the first quarter. Venturi Wealth Management LLC now owns 10,900 shares of the retailer's stock valued at $1,138,000 after purchasing an additional 8,536 shares in the last quarter. Finally, Granite Group Advisors LLC acquired a new stake in Target in the first quarter valued at approximately $989,000. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

TGT has been the subject of several research reports. Truist Financial lifted their price objective on shares of Target from $82.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price objective on shares of Target and gave the company a "market perform" rating in a report on Thursday, May 22nd. Evercore ISI cut their target price on shares of Target from $130.00 to $120.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Loop Capital set a $95.00 target price on shares of Target in a research note on Thursday, July 17th. Finally, Wells Fargo & Company decreased their target price on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $115.65.

Target Trading Up 0.2%

Shares of NYSE TGT traded up $0.21 during midday trading on Friday, reaching $106.03. 3,468,072 shares of the stock were exchanged, compared to its average volume of 5,096,651. The stock has a 50 day moving average price of $99.22 and a 200-day moving average price of $108.59. 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 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 P/E ratio of 11.65, a P/E/G ratio of 3.03 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share 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 net margin of 3.95% and a return on equity of 25.59%. The company's quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $2.03 earnings per share. Equities research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.23%. Target's dividend payout ratio (DPR) is presently 50.11%.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction 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 sale, the insider owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by insiders.

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.