Robertson Stephens Wealth Management LLC Purchases 365 Shares of Target Corporation (NYSE:TGT)

Robertson Stephens Wealth Management LLC boosted its position in Target Corporation (NYSE:TGT) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,593 shares of the retailer’s stock after acquiring an additional 365 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Target were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nicholas Company Inc. grew its holdings in Target by 20.5% during the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after buying an additional 9,485 shares in the last quarter. River Road Asset Management LLC grew its holdings in Target by 144.9% during the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after buying an additional 138,751 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Target during the 4th quarter valued at about $6,459,000. Sierra Summit Advisors LLC grew its holdings in 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 buying an additional 3,231 shares in the last quarter. Finally, Viking Fund Management LLC grew its holdings in 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 buying an additional 10,000 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

Shares of TGT stock opened at $95.22 on Thursday. 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 Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The stock has a 50 day moving average price of $95.56 and a two-hundred day moving average price of $114.51. The company has a market capitalization of $43.26 billion, a P/E ratio of 10.46, a PEG ratio of 2.73 and a beta of 1.22.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. Target’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.03 EPS. Analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.70%. Target’s dividend payout ratio is presently 49.23%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TGT shares. Morgan Stanley reduced their target price on Target from $160.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Baird R W lowered Target from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Bank of America lowered Target from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $105.00 in a report on Thursday, May 22nd. Finally, Guggenheim cut their price objective on Target from $155.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $116.70.

Insider Activity at Target

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 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 now owns 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.