OLD National Bancorp IN Has $8.39 Million Stake in Target Co. (NYSE:TGT)

OLD National Bancorp IN decreased its holdings in shares of Target Co. (NYSE:TGT) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,347 shares of the retailer’s stock after selling 1,530 shares during the quarter. OLD National Bancorp IN’s holdings in Target were worth $8,385,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in Target during the fourth quarter worth $29,000. Bernard Wealth Management Corp. acquired a new stake in Target in the fourth quarter valued at $29,000. Legacy Investment Solutions LLC lifted its stake 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 last quarter. OFI Invest Asset Management acquired a new stake in Target in the fourth quarter valued at $36,000. Finally, Compass Financial Services Inc acquired a new stake in Target in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

NYSE:TGT opened at $97.33 on Friday. Target Co. has a 52 week low of $87.35 and a 52 week high of $167.40. The firm has a market cap of $44.22 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 1.94 and a beta of 1.22. The firm’s 50-day simple moving average is $95.24 and its 200 day simple moving average is $116.12. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS 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 earned $2.03 earnings per share. Target’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Wednesday, May 14th. Target’s dividend payout ratio is currently 49.23%.

Insider Buying and Selling at Target

In other Target 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 transaction, the insider now directly owns 246,453 shares of the company’s stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Target from $92.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Baird R W cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Barclays initiated coverage on shares of Target in a research note on Thursday, May 22nd. They issued an “equal weight” rating for the company. Robert W. Baird set a $100.00 price target on shares of Target in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $116.70.

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.