US Bancorp DE Has $175.89 Million Position in Target Corporation (NYSE:TGT)

Key Points

• US Bancorp DE has decreased its holdings in Target Corporation by 12.4%, now owning approximately $175.89 million worth of shares, according to its latest SEC filing.
• Target's recent quarterly earnings showed a miss, reporting $1.30 EPS against estimates of $1.65, with revenues falling 2.8% year-over-year.
• Analysts have recently lowered price targets for Target, with the consensus now at $115.65, reflecting mostly neutral ratings from securities research firms.

US Bancorp DE reduced its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,685,446 shares of the retailer's stock after selling 239,145 shares during the period. US Bancorp DE owned 0.37% of Target worth $175,893,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Fiducient Advisors LLC grew its holdings in Target by 4.6% during the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock worth $240,000 after acquiring an additional 78 shares during the period. Legacy Investment Solutions LLC grew its stake in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares during the period. Bontempo Ohly Capital Mgmt LLC grew its stake in shares of Target by 0.3% in the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock valued at $3,875,000 after buying an additional 85 shares during the period. Anchor Investment Management LLC grew its stake in shares of Target by 1.7% in the 4th quarter. Anchor Investment Management LLC now owns 5,471 shares of the retailer's stock valued at $740,000 after buying an additional 92 shares during the period. Finally, Ancora Advisors LLC grew its stake in shares of Target by 0.9% in the 4th quarter. Ancora Advisors LLC now owns 10,369 shares of the retailer's stock valued at $1,402,000 after buying an additional 92 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on TGT shares. Citigroup reduced their target price on Target from $97.00 to $94.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. The Goldman Sachs Group dropped their price target on shares of Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Mizuho dropped their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their price target on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Finally, Loop Capital set a $95.00 price target on shares of Target in a research report on Thursday, July 17th. Two equities 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 stock currently has an average rating of "Hold" and a consensus price target of $115.65.

Target Stock Performance

Shares of NYSE:TGT opened at $100.58 on Friday. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40. The company has a market cap of $45.70 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 2.95 and a beta of 1.22. The company has a 50-day moving average price of $99.83 and a 200-day moving average price of $107.61. 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 (NYSE:TGT - Get Free Report) last released its quarterly 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 return on equity of 25.59% and a net margin of 3.95%. The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the previous year, the company earned $2.03 earnings per share. Target's quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

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. This represents a $4.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is presently 50.11%.

Insider Transactions at Target

In other Target 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 value of $4,328,100.00. Following the sale, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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.

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