Aigen Investment Management LP Has $2.97 Million Stake in Target Corporation (NYSE:TGT)

Aigen Investment Management LP raised its holdings in Target Corporation (NYSE:TGT) by 399.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,479 shares of the retailer’s stock after acquiring an additional 22,780 shares during the period. Aigen Investment Management LP’s holdings in Target were worth $2,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Bernard Wealth Management Corp. acquired a new position in Target in the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC grew its stake in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after acquiring an additional 85 shares during the period. Heck Capital Advisors LLC acquired a new position in Target in the fourth quarter valued at about $40,000. Atwood & Palmer Inc. grew its stake in Target by 951.4% in the first 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 acquired a new position in Target in the first quarter valued at about $43,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TGT shares. Cfra Research cut Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. Royal Bank Of Canada reduced their price objective on Target from $112.00 to $103.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. Piper Sandler reaffirmed a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. The Goldman Sachs Group reduced their price objective on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, DA Davidson reduced their price objective on Target from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $115.65.

Target Price Performance

Shares of NYSE TGT opened at $105.45 on Friday. The firm has a market cap of $47.91 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 3.01 and a beta of 1.22. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The business’s 50 day moving average is $100.79 and its 200-day moving average is $106.09.

Target (NYSE:TGT) last announced its 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 firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. Target’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS. Equities research analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid 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 4.2%. Target’s dividend payout ratio (DPR) is 49.23%.

Insider Buying and Selling at Target

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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.