KBC Group NV Decreases Stake in Target Corporation (NYSE:TGT)

KBC Group NV trimmed its position in Target Corporation (NYSE:TGT) by 4.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 349,824 shares of the retailer’s stock after selling 14,557 shares during the period. KBC Group NV’s holdings in Target were worth $36,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in shares of Target in the fourth quarter valued at about $29,000. Bernard Wealth Management Corp. purchased a new stake in Target in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC increased its holdings in 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 buying an additional 85 shares during the period. OFI Invest Asset Management purchased a new position in Target during the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Target during the 4th quarter valued at approximately $40,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Target Stock Performance

TGT stock opened at $99.38 on Monday. The company has a 50-day simple moving average of $96.16 and a 200 day simple moving average of $112.49. The company has a market capitalization of $45.16 billion, a P/E ratio of 10.92, a PEG ratio of 2.85 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. Target Corporation has a fifty-two week low of $87.35 and a fifty-two week high of $167.40.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $24.54 billion. During the same quarter last year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s dividend payout ratio (DPR) is presently 49.23%.

Analysts Set New Price Targets

Several equities research analysts have commented on TGT shares. Wells Fargo & Company lowered their price target on shares of Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Sanford C. Bernstein downgraded Target from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $97.00 to $82.00 in a research note on Monday, May 12th. Roth Mkm reaffirmed a “neutral” rating and set a $122.00 target price (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Evercore ISI decreased their price target on Target from $130.00 to $120.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, Mizuho lowered their price objective on Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently 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.