Kingswood Wealth Advisors LLC Decreases Position in Target Corporation (NYSE:TGT)

Kingswood Wealth Advisors LLC lowered its stake in Target Corporation (NYSE:TGT) by 19.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 10,042 shares of the retailer’s stock after selling 2,482 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Target were worth $1,048,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TGT. Capital World Investors boosted its holdings in Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock valued at $2,964,565,000 after acquiring an additional 1,306,552 shares in the last quarter. FMR LLC grew its position in Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after purchasing an additional 1,358,348 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Target by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after buying an additional 470,990 shares during the last quarter. Norges Bank bought a new stake in shares of Target in the 4th quarter worth $757,892,000. Finally, Northern Trust Corp increased its holdings in Target by 16.3% in the 4th quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer’s stock worth $726,814,000 after buying an additional 754,883 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research reports. 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 research note on Thursday, May 22nd. Bank of America downgraded shares of Target from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $105.00 in a research report on Thursday, May 22nd. Piper Sandler set a $94.00 price target on shares of Target and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price objective on Target and gave the stock a “market perform” rating in a research note on Thursday, May 22nd. Finally, Citigroup decreased their target price on Target from $97.00 to $94.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $116.70.

Target Stock Performance

Shares of NYSE TGT opened at $95.22 on Friday. The company has a market cap of $43.26 billion, a P/E ratio of 10.46, a P/E/G ratio of 2.74 and a beta of 1.22. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The firm’s fifty day moving average is $95.62 and its two-hundred day moving average is $114.26.

Target (NYSE:TGT) last issued its quarterly earnings data 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 firm had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. During the same quarter in the previous year, the business earned $2.03 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

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

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.