Target Co. (NYSE:TGT) Stake Increased by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC increased its holdings in shares of Target Co. (NYSE:TGT) by 267.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,486 shares of the retailer’s stock after buying an additional 1,082 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Target were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new position in shares of Target in the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. purchased a new position in Target during the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC increased its stake in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after buying an additional 85 shares during the period. OFI Invest Asset Management acquired a new position in Target in the 4th quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Target in the 4th quarter worth approximately $40,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Up 4.1%

TGT stock opened at $97.33 on Monday. The stock has a market capitalization of $44.22 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The company has a 50-day moving average of $95.24 and a two-hundred day moving average of $116.08. Target Co. 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 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

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). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period in the prior year, the firm posted $2.03 EPS. Target’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a $1.12 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.60%. Target’s dividend payout ratio is 49.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TGT shares. Guggenheim lowered their price target on shares of Target from $155.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, May 27th. Piper Sandler set a $94.00 price objective on Target and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Morgan Stanley lowered their target price on Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Bank of America downgraded Target from a “buy” rating to a “neutral” rating and cut their price target for the stock from $145.00 to $105.00 in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group lowered their price target on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research note 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, the company presently has a consensus rating of “Hold” and a consensus target price of $116.70.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction 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 owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Target Company 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.