Waycross Partners LLC Has $17.49 Million Holdings in Target Corporation (NYSE:TGT)

Key Points

• Waycross Partners LLC increased its stock holdings in Target Corporation by 21.6%, owning 167,592 shares valued at approximately $17.49 million.
• Target's quarterly earnings report showed an EPS of $1.30, missing analyst estimates by $0.35, with a revenue decline of 2.8% year-over-year.
• The company is set to pay a quarterly dividend of $1.12 per share on September 1st, with an annualized yield of 4.2%.

Waycross Partners LLC increased its position in shares of Target Corporation (NYSE:TGT - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,592 shares of the retailer's stock after purchasing an additional 29,734 shares during the period. Target accounts for about 2.0% of Waycross Partners LLC's investment portfolio, making the stock its 25th largest holding. Waycross Partners LLC's holdings in Target were worth $17,490,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TGT. Ontario Teachers Pension Plan Board bought a new stake in shares of Target in the 1st quarter worth approximately $1,592,000. 1834 Investment Advisors Co. grew its position in Target by 12.1% in the first quarter. 1834 Investment Advisors Co. now owns 25,931 shares of the retailer's stock worth $2,706,000 after buying an additional 2,793 shares during the last quarter. Deutsche Bank AG grew its position in Target by 44.1% in the first quarter. Deutsche Bank AG now owns 2,276,435 shares of the retailer's stock worth $237,569,000 after buying an additional 697,069 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Target by 2.9% in the first quarter. Chicago Partners Investment Group LLC now owns 7,644 shares of the retailer's stock valued at $730,000 after buying an additional 219 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after acquiring an additional 12,825,586 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TGT. Telsey Advisory Group set a $110.00 target price on Target and gave the stock a "market perform" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price target on Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on Target in a report on Thursday, May 22nd. Royal Bank Of Canada decreased their target price on shares of Target from $112.00 to $103.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Finally, Guggenheim dropped their target price on shares of Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $115.65.

Target Stock Down 0.2%

TGT traded down $0.22 during midday trading on Friday, hitting $105.45. 3,493,433 shares of the company's stock traded hands, compared to its average volume of 4,928,076. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The company has a market cap of $47.91 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 3.02 and a beta of 1.22. The stock's fifty day simple moving average is $100.79 and its 200-day simple moving average is $106.30. Target Corporation has a one year low of $87.35 and a one year high of $167.40.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results 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 business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the prior year, the business posted $2.03 EPS. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is 49.23%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated 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 transaction, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company's stock.

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.