Victory Capital Management Inc. reduced its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 86.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 397,655 shares of the retailer's stock after selling 2,527,599 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of Target worth $41,499,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Bernard Wealth Management Corp. bought a new stake in Target in the 4th quarter valued at $29,000. Legacy Investment Solutions LLC lifted its position in 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 acquiring an additional 85 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Target in the 4th quarter valued at $40,000. Atwood & Palmer Inc. lifted its position in Target by 951.4% in the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after acquiring an additional 352 shares in the last quarter. Finally, Abound Financial LLC bought a new stake in Target in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 79.73% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on TGT shares. JPMorgan Chase & Co. boosted their price objective on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Bank of America cut shares of Target from a "buy" rating to a "neutral" rating and cut their price target for the stock from $145.00 to $105.00 in a research report on Thursday, May 22nd. Cfra Research cut shares of Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. Piper Sandler set a $94.00 price target on shares of Target and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley cut their price target on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $115.65.
Get Our Latest Report on TGT
Target Stock Performance
Shares of NYSE:TGT traded up $0.93 on Wednesday, reaching $107.47. 5,900,804 shares of the company's stock were exchanged, compared to its average volume of 6,332,590. The company has a fifty day moving average of $98.89 and a 200-day moving average of $109.05. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a market capitalization of $48.83 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 3.05 and a beta of 1.22. 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 announced its 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 business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the previous year, the company earned $2.03 EPS. The business's revenue for the quarter was down 2.8% on a year-over-year basis. On average, research analysts predict that Target Corporation will post 8.69 EPS for the current fiscal 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 paid a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.17%. Target's dividend payout ratio (DPR) is 49.23%.
Insider Transactions at Target
In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on 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 transaction, the insider directly owned 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.
About Target
(
Free Report)
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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