Valley Wealth Managers Inc. Acquires 11,975 Shares of Target Corporation (NYSE:TGT)

Key Points

• Valley Wealth Managers Inc. increased its holdings in Target Corporation by 13.2% in Q1, acquiring an additional 11,975 shares, bringing its total to 102,969 shares valued at approximately $10.75 million.
• Target's recent quarterly earnings report showed a miss on expectations, with an earnings per share of $1.30 compared to an estimate of $1.65, and a revenue decline of 2.8% year-over-year.
• The company announced a quarterly dividend of $1.12 to be paid on September 1, representing an annualized yield of 4.23%, with a payout ratio of 50.11%.

Valley Wealth Managers Inc. grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 13.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,969 shares of the retailer's stock after acquiring an additional 11,975 shares during the period. Valley Wealth Managers Inc.'s holdings in Target were worth $10,746,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. DSG Capital Advisors LLC lifted its holdings in Target by 16.1% during the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock valued at $16,347,000 after purchasing an additional 21,726 shares in the last quarter. Sierra Summit Advisors LLC raised its position in shares of Target by 29.0% during the 4th quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer's stock valued at $1,940,000 after purchasing an additional 3,231 shares during the period. Viking Fund Management LLC raised its position in shares of Target by 20.0% during the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock valued at $6,262,000 after purchasing an additional 10,000 shares during the period. Correct Capital Wealth Management lifted its stake in shares of Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock valued at $1,415,000 after buying an additional 4,189 shares in the last quarter. Finally, Chapin Davis Inc. boosted its holdings in Target by 64.7% in the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock worth $888,000 after buying an additional 3,342 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

NYSE:TGT opened at $106.03 on Friday. The firm has a market capitalization of $48.18 billion, a PE ratio of 11.65, a PEG ratio of 3.03 and a beta of 1.22. The stock's fifty day moving average is $99.22 and its 200 day moving average is $108.59. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94.

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). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter last year, the firm earned $2.03 EPS. The company's revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is currently 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 that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TGT shares. Wells Fargo & Company decreased their price target on Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. DA Davidson cut their target price on Target from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Barclays reissued an "underweight" rating and set a $91.00 target price on shares of Target in a research note on Monday, July 21st. Wall Street Zen cut Target from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, 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. Two analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $115.65.

Target 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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