Rakuten Securities Inc. Has $196,000 Position in Target Co. (NYSE:TGT)

Rakuten Securities Inc. lessened its holdings in shares of Target Co. (NYSE:TGT) by 10.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,874 shares of the retailer’s stock after selling 215 shares during the period. Rakuten Securities Inc.’s holdings in Target were worth $196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors grew its holdings in Target by 6.3% during the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock worth $2,964,565,000 after acquiring an additional 1,306,552 shares during the last quarter. FMR LLC lifted its position in shares of Target by 13.6% during the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock worth $1,532,769,000 after purchasing an additional 1,358,348 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Target by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock worth $1,332,317,000 after purchasing an additional 470,990 shares in the last quarter. Norges Bank bought a new stake in shares of Target during the fourth quarter valued at approximately $757,892,000. Finally, Northern Trust Corp increased its holdings in shares of Target by 16.3% in the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer’s stock valued at $726,814,000 after purchasing an additional 754,883 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 completion of the transaction, the insider now owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on TGT. Roth Capital set a $122.00 price objective on shares of Target in a research report on Wednesday, March 5th. Cfra Research downgraded Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. Royal Bank of Canada cut their price target on Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Roth Mkm reiterated a “neutral” rating and issued a $122.00 price objective (down from $131.00) on shares of Target in a research report on Wednesday, March 5th. Finally, Piper Sandler set a $94.00 price objective on Target and gave the stock a “neutral” rating in a report on Thursday, May 22nd. One investment 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 stock has an average rating of “Hold” and an average price target of $116.70.

Target Stock Up 2.1%

TGT stock opened at $97.37 on Tuesday. The company has a market cap of $44.24 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.94 and a beta of 1.22. Target Co. has a twelve month low of $87.35 and a twelve month high of $167.40. The business has a 50 day moving average price of $95.65 and a two-hundred day moving average price of $114.78. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its earnings results 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 net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the prior year, the business posted $2.03 earnings per share. Target’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal 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 issued a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.60%. Target’s payout ratio is 50.11%.

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.