LRI Investments LLC Increases Stock Position in Target Corporation (NYSE:TGT)

LRI Investments LLC boosted its stake in Target Corporation (NYSE:TGT) by 102.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 879 shares of the retailer’s stock after purchasing an additional 445 shares during the quarter. LRI Investments LLC’s holdings in Target were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TGT. Norges Bank purchased a new stake in Target in the fourth quarter valued at approximately $757,892,000. Ameriprise Financial Inc. raised its stake in Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after purchasing an additional 1,506,275 shares in the last quarter. FMR LLC raised its stake in Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after purchasing an additional 1,358,348 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Target in the fourth quarter valued at approximately $182,882,000. Finally, Capital World Investors grew its position in Target by 6.3% during the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock valued at $2,964,565,000 after acquiring an additional 1,306,552 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT stock opened at $104.97 on Tuesday. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40. The stock has a market cap of $47.69 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 2.98 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. The company’s fifty day moving average price is $97.91 and its 200-day moving average price is $110.24.

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). Target had a net margin of 3.95% and a return on equity of 25.59%. The business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter last year, the firm posted $2.03 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that Target Corporation will post 8.69 EPS for the current fiscal 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 given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio is presently 49.23%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citigroup reduced their price target on shares of Target from $97.00 to $94.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Truist Financial increased their price target on shares of Target from $82.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, May 22nd. Bank of America cut shares of Target from a “buy” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $105.00 in a research report on Thursday, May 22nd. Stifel Nicolaus reduced their price target on shares of Target from $130.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th. Finally, Barclays assumed coverage on shares of Target in a research report on Thursday, May 22nd. They set an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $116.70.

Insider Activity

In other 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 value of $4,328,100.00. Following the completion of the transaction, the insider owned 246,453 shares of the company’s stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate 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.