Target Corporation (NYSE:TGT) Shares Acquired by Mattern Capital Management LLC

Mattern Capital Management LLC lifted its holdings in shares of Target Corporation (NYSE:TGT) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,585 shares of the retailer’s stock after acquiring an additional 3,244 shares during the quarter. Mattern Capital Management LLC’s holdings in Target were worth $7,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lecap Asset Management Ltd. bought a new stake in shares of Target in the 1st quarter worth about $2,954,000. Moran Wealth Management LLC increased its position in shares of Target by 10.8% in the 1st quarter. Moran Wealth Management LLC now owns 57,872 shares of the retailer’s stock worth $6,040,000 after purchasing an additional 5,648 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Target by 6.7% in the 1st quarter. International Assets Investment Management LLC now owns 25,558 shares of the retailer’s stock worth $2,667,000 after purchasing an additional 1,611 shares during the last quarter. Consolidated Portfolio Review Corp increased its position in shares of Target by 172.9% in the 1st quarter. Consolidated Portfolio Review Corp now owns 6,053 shares of the retailer’s stock worth $632,000 after purchasing an additional 3,835 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Target by 8.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 191,220 shares of the retailer’s stock worth $19,956,000 after purchasing an additional 14,319 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the subject of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Target from $130.00 to $120.00 and set a “hold” rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on shares of Target from $105.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Bank of America lowered shares of Target from a “buy” rating to a “neutral” rating and decreased their price target for the company from $145.00 to $105.00 in a report on Thursday, May 22nd. Guggenheim decreased their price target on shares of Target from $155.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. Finally, Mizuho decreased their price target on shares of Target from $92.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued 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 Trading Up 1.1%

TGT opened at $97.55 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $44.32 billion, a PE ratio of 10.72, a PEG ratio of 2.78 and a beta of 1.22. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The firm has a 50-day moving average price of $95.82 and a two-hundred day moving average price of $113.44.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 EPS. 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 disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s payout ratio is presently 49.23%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider now owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.