Universal Beteiligungs und Servicegesellschaft mbH Takes $51.27 Million Position in Target Co. (NYSE:TGT)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Target Co. (NYSE:TGT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 379,272 shares of the retailer's stock, valued at approximately $51,270,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Target as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter valued at $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Target in the fourth quarter valued at $29,000. Legacy Investment Solutions LLC raised its stake in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after acquiring an additional 85 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Target in the fourth quarter valued at $36,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Target in the fourth quarter valued at $39,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Down 0.9%

TGT stock traded down $0.90 during midday trading on Friday, hitting $93.97. The stock had a trading volume of 7,867,613 shares, compared to its average volume of 6,034,261. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40. The company's 50-day moving average price is $96.26 and its 200 day moving average price is $117.72. The firm has a market cap of $42.70 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.03 earnings per share. On average, equities research analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.77%. Target's dividend payout ratio (DPR) is presently 49.23%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TGT. Piper Sandler set a $94.00 price objective on Target and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Wall Street Zen lowered Target from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Guggenheim lowered their price target on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Bank of America lowered Target from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $145.00 to $105.00 in a report on Thursday, May 22nd. Finally, Baird R W lowered Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $116.68.

Insider Buying and Selling

In related 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 now owns 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by company insiders.

About Target

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.