HB Wealth Management LLC Raises Holdings in Target Corporation (NYSE:TGT)

HB Wealth Management LLC boosted its stake in shares of Target Corporation (NYSE:TGT) by 11.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,570 shares of the retailer’s stock after acquiring an additional 8,944 shares during the quarter. HB Wealth Management LLC’s holdings in Target were worth $9,035,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new stake in Target during the fourth quarter valued at $29,000. Legacy Investment Solutions LLC boosted its stake in shares of Target by 47.5% during 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 in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Target during the 4th quarter valued at about $40,000. Atwood & Palmer Inc. grew its position in shares of Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer’s stock valued at $41,000 after acquiring an additional 352 shares during the period. Finally, Abound Financial LLC purchased a new position in shares of Target in the 1st quarter valued at about $43,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Target

In related 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 value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TGT shares. Sanford C. Bernstein downgraded Target from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $97.00 to $82.00 in a research report on Monday, May 12th. JPMorgan Chase & Co. upped their target price on Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. DA Davidson dropped their price target on shares of Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Robert W. Baird set a $100.00 price target on shares of Target in a report on Thursday, May 22nd. Finally, Bank of America lowered shares of Target from a “buy” rating to a “neutral” rating and dropped their target price for the company from $145.00 to $105.00 in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $115.65.

Target Trading Up 0.2%

Shares of Target stock opened at $106.03 on Friday. Target Corporation has a fifty-two week low of $87.35 and a fifty-two 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 has a market capitalization of $48.18 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 3.03 and a beta of 1.22. The stock has a 50 day moving average of $99.22 and a 200 day moving average of $108.39.

Target (NYSE:TGT) last released its quarterly 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 business had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 earnings per share. As a group, research analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio (DPR) is 49.23%.

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.