Texas Capital Bank Wealth Management Services Inc Has $215,000 Holdings in Target Corporation $TGT

Key Points

• Texas Capital Bank Wealth Management Services Inc reduced its holdings in Target Corporation by 72.7% in the first quarter, owning 2,057 shares valued at $215,000 after selling 5,474 shares.
• Insider Brian C. Cornell sold 45,000 shares of Target at an average price of $96.18, decreasing his stake by 15.44% and leaving him with 246,453 shares valued at approximately $23.7 million.
• Target announced a quarterly dividend of $1.12 per share, with a 4.2% yield, and the payment is scheduled for September 1st to shareholders of record as of August 13th.

Texas Capital Bank Wealth Management Services Inc cut its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 72.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,057 shares of the retailer's stock after selling 5,474 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Target were worth $215,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Target by 86.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 394,112 shares of the retailer's stock worth $41,104,000 after buying an additional 182,512 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Target during the first quarter valued at approximately $2,537,000. Edgar Lomax Co. VA increased its position in shares of Target by 49.5% during the first quarter. Edgar Lomax Co. VA now owns 528,460 shares of the retailer's stock valued at $55,150,000 after purchasing an additional 174,860 shares during the period. Cladis Investment Advisory LLC increased its position in shares of Target by 18.7% during the first quarter. Cladis Investment Advisory LLC now owns 4,443 shares of the retailer's stock valued at $464,000 after purchasing an additional 700 shares during the period. Finally, Sand Hill Global Advisors LLC increased its position in shares of Target by 2,010.7% during the first quarter. Sand Hill Global Advisors LLC now owns 35,607 shares of the retailer's stock valued at $3,716,000 after purchasing an additional 33,920 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Target Trading Up 0.5%

Shares of TGT opened at $105.4440 on Wednesday. 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 $47.91 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 3.03 and a beta of 1.22. The stock has a fifty day moving average price of $102.02 and a two-hundred day moving average price of $104.40. Target Corporation has a 52-week low of $87.35 and a 52-week 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). The business had revenue of $24.20 billion during 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 revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 EPS. Analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently disclosed 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 of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.2%. Target's dividend payout ratio is currently 50.11%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TGT. JPMorgan Chase & Co. boosted their price objective on Target from $105.00 to $109.00 and gave the company a "neutral" rating 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, August 12th. Mizuho lowered their price objective on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. 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. Finally, Telsey Advisory Group restated a "market perform" rating and set a $110.00 price objective on shares of Target in a research report on Thursday, August 14th. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $115.42.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.