Balboa Wealth Partners Sells 15,778 Shares of Target Corporation (NYSE:TGT)

Balboa Wealth Partners decreased its holdings in Target Corporation (NYSE:TGT) by 83.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,050 shares of the retailer’s stock after selling 15,778 shares during the quarter. Balboa Wealth Partners’ holdings in Target were worth $318,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Horrell Capital Management Inc. lifted its holdings in shares of Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after buying an additional 76 shares during the period. Fiducient Advisors LLC increased its position in Target by 4.6% during the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock valued at $240,000 after acquiring an additional 78 shares during the last quarter. Napatree Capital LLC increased its position in Target by 2.4% during the fourth quarter. Napatree Capital LLC now owns 3,609 shares of the retailer’s stock valued at $488,000 after acquiring an additional 85 shares during the last quarter. Legacy Investment Solutions LLC lifted its holdings 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. Finally, Bontempo Ohly Capital Mgmt LLC boosted its position in Target by 0.3% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer’s stock worth $3,875,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Target from $130.00 to $120.00 and set a “hold” rating for the company in a research report on Thursday, March 20th. Guggenheim dropped their price objective 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. Oppenheimer cut their price objective on shares of Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. UBS Group reduced their price target on Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, 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. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Target currently has an average rating of “Hold” and a consensus target price of $116.70.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated 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 now owns 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Target Trading Up 1.1%

Shares of NYSE TGT opened at $97.55 on Wednesday. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The business’s 50 day moving average is $95.82 and its two-hundred day moving average is $113.44. The stock has a market capitalization of $44.32 billion, a P/E ratio of 10.72, a PEG ratio of 2.78 and a beta of 1.22.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion during 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%. Target’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 EPS. As a group, research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s payout ratio is 49.23%.

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.