Target Corporation (NYSE:TGT) Position Raised by Janney Capital Management LLC

Janney Capital Management LLC increased its position in shares of Target Corporation (NYSE:TGT) by 29.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,301 shares of the retailer’s stock after purchasing an additional 30,977 shares during the period. Janney Capital Management LLC’s holdings in Target were worth $14,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nicholas Company Inc. raised its holdings in Target by 20.5% during the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock worth $7,544,000 after purchasing an additional 9,485 shares in the last quarter. River Road Asset Management LLC raised its holdings in Target by 144.9% during the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock worth $31,699,000 after purchasing an additional 138,751 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in Target in the fourth quarter worth approximately $6,459,000. Sierra Summit Advisors LLC grew its position in Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock worth $1,940,000 after buying an additional 3,231 shares during the last quarter. Finally, Viking Fund Management LLC grew its position in Target by 20.0% in the first quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer’s stock worth $6,262,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Evercore ISI decreased their price target on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Truist Financial lifted their price target on shares of Target from $82.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, May 22nd. Telsey Advisory Group set a $110.00 price target on shares of Target and gave the stock a “market perform” rating in a research report on Thursday, May 22nd. Barclays assumed coverage on shares of Target in a research report on Thursday, May 22nd. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a research 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.com, Target currently has a consensus rating of “Hold” and a consensus target price of $116.70.

Target Stock Up 0.2%

TGT stock opened at $95.22 on Thursday. 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 company has a fifty day simple moving average of $95.56 and a 200 day simple moving average of $114.51. The firm has a market cap of $43.26 billion, a PE ratio of 10.46, a PEG ratio of 2.73 and a beta of 1.22.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 EPS. Sell-side analysts anticipate that Target Corporation 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. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio is 49.23%.

Insiders Place Their Bets

In other Target 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 completion of the transaction, the insider now owns 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

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.