Courier Capital LLC Acquires 3,794 Shares of Target Co. (NYSE:TGT)

Courier Capital LLC grew its position in Target Co. (NYSE:TGT) by 62.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,874 shares of the retailer’s stock after acquiring an additional 3,794 shares during the quarter. Courier Capital LLC’s holdings in Target were worth $1,030,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TGT. Hopwood Financial Services Inc. bought a new stake in shares of Target in the 4th quarter worth approximately $29,000. Bernard Wealth Management Corp. bought a new stake in shares of Target in the 4th quarter worth approximately $29,000. Legacy Investment Solutions LLC lifted its position in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after acquiring an additional 85 shares during the period. OFI Invest Asset Management bought a new stake in shares of Target in the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Target in the 4th quarter worth approximately $40,000. Institutional investors own 79.73% of the company’s stock.

Target Trading Up 0.0%

TGT stock opened at $97.36 on Tuesday. The company has a market cap of $44.24 billion, a P/E ratio of 10.32, a PEG ratio of 1.94 and a beta of 1.22. Target Co. has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $95.07 and a 200-day moving average of $115.89.

Target (NYSE:TGT) last released its 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). The firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 EPS. As a group, equities research analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were issued a $1.12 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.60%. Target’s dividend payout ratio is presently 49.23%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider now owns 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on TGT shares. JPMorgan Chase & Co. raised their price objective on Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Piper Sandler set a $94.00 target price on Target and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Evercore ISI cut their target price on Target from $130.00 to $120.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. BMO Capital Markets cut their target price on Target from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group cut 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. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus price target of $116.70.

About Target

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.