Texas Yale Capital Corp. Has $899,000 Stock Position in Target Corporation (NYSE:TGT)

Key Points

• Texas Yale Capital Corp. raised its stake in Target Corporation by 50.9%, bringing its total holdings to 8,615 shares, valued at approximately $899,000.
• Target Corporation reported quarterly earnings of $1.30 per share, missing estimates by $0.35, with revenues down 2.8% year-over-year.
• The company declared a quarterly dividend of $1.12 per share, which will result in an annual yield of 4.23% for shareholders of record.

Texas Yale Capital Corp. increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 50.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,615 shares of the retailer's stock after buying an additional 2,905 shares during the period. Texas Yale Capital Corp.'s holdings in Target were worth $899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bernard Wealth Management Corp. bought a new stake in Target during the 4th quarter worth about $29,000. Legacy Investment Solutions LLC raised its holdings in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after purchasing an additional 85 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Target during the 4th quarter worth about $40,000. Atwood & Palmer Inc. raised its holdings in Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after purchasing an additional 352 shares during the last quarter. Finally, Abound Financial LLC bought a new stake in Target during the 1st quarter worth about $43,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Analysts Set New Price Targets

TGT has been the subject of several recent research reports. Robert W. Baird set a $100.00 price objective on Target in a report on Thursday, May 22nd. Sanford C. Bernstein cut Target from a "market perform" rating to an "underperform" rating and dropped their price objective for the stock from $97.00 to $82.00 in a report on Monday, May 12th. Wedbush reissued an "outperform" rating on shares of Target in a report on Thursday, July 17th. Cfra Research cut Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Wall Street Zen cut Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $115.65.

Target Trading Up 0.2%

NYSE:TGT opened at $106.03 on Monday. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average price of $99.22 and a two-hundred day moving average price of $108.18. The company has a market cap of $48.18 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last released 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). Target had a return on equity of 25.59% and a net margin of 3.95%. The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period last year, the company earned $2.03 EPS. The company's revenue was down 2.8% compared to the same quarter last year. As a group, analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio (DPR) is currently 49.23%.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

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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