Field & Main Bank Decreases Stake in Target Corporation (NYSE:TGT)

Field & Main Bank reduced its stake in shares of Target Corporation (NYSE:TGT) by 9.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,505 shares of the retailer’s stock after selling 755 shares during the period. Field & Main Bank’s holdings in Target were worth $783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Target during the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in Target in the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC raised 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 in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Target during the 4th quarter worth $36,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Target during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TGT shares. KGI Securities set a $132.00 target price on shares of Target in a report on Wednesday, March 5th. Sanford C. Bernstein cut Target from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $97.00 to $82.00 in a research note on Monday, May 12th. Stifel Nicolaus reduced their price objective 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. Piper Sandler set a $94.00 price target on shares of Target and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Finally, Truist Financial lifted their price objective on Target from $82.00 to $90.00 and gave the stock a “hold” rating in a 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 given a buy rating to the company’s stock. According to MarketBeat.com, Target presently has a consensus rating of “Hold” and an average target price of $116.70.

Target Trading Up 1.1%

NYSE:TGT opened at $97.55 on Wednesday. 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 firm has a 50-day moving average of $95.82 and a 200-day moving average of $113.44. Target Corporation has a one year low of $87.35 and a one year high of $167.40. The company has a market cap of $44.32 billion, a PE ratio of 10.72, a PEG ratio of 2.78 and a beta of 1.22.

Target (NYSE:TGT) last announced its quarterly 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 analysts’ expectations of $24.54 billion. During the same quarter in the previous year, the company posted $2.03 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

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