Viking Fund Management LLC Buys 10,000 Shares of Target Co. (NYSE:TGT)

Viking Fund Management LLC increased its stake in Target Co. (NYSE:TGT - Free Report) by 20.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,000 shares of the retailer's stock after acquiring an additional 10,000 shares during the quarter. Viking Fund Management LLC's holdings in Target were worth $6,262,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Target in the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. bought a new stake in Target in the fourth quarter worth approximately $29,000. Legacy Investment Solutions LLC lifted its stake in 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 buying an additional 85 shares during the period. OFI Invest Asset Management acquired a new position in Target in the fourth quarter valued at approximately $36,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Target during the 4th quarter worth approximately $39,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction that occurred on 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 directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

Target Stock Performance

TGT stock traded down $0.46 during mid-day trading on Thursday, hitting $93.49. The company had a trading volume of 4,679,871 shares, compared to its average volume of 6,035,838. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a market cap of $42.48 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. Target Co. has a 12 month low of $87.35 and a 12 month high of $167.40. The stock's fifty day moving average price is $95.60 and its two-hundred day moving average price is $117.00.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion during the quarter, compared to analysts' expectations of $24.54 billion. During the same quarter in the previous year, the company posted $2.03 EPS. Target's revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Wednesday, May 14th. Target's dividend payout ratio (DPR) is presently 49.23%.

Analysts Set New Price Targets

TGT has been the subject of several research analyst reports. Truist Financial lifted their price objective on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley decreased their price target on shares of Target from $160.00 to $112.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their price objective on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group decreased their target price on Target from $101.00 to $90.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Finally, Telsey Advisory Group set a $110.00 price target on Target and gave the stock a "market perform" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $116.70.

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.