Truist Financial Corp boosted its holdings in Target Co. (NYSE:TGT – Free Report) by 14.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,278,879 shares of the retailer’s stock after buying an additional 164,819 shares during the period. Truist Financial Corp owned approximately 0.28% of Target worth $211,821,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Moneta Group Investment Advisors LLC grew its stake in Target by 95,980.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock valued at $2,762,865,000 after buying an additional 18,518,448 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Target by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,220,256 shares of the retailer’s stock worth $1,222,866,000 after buying an additional 120,794 shares during the last quarter. Morgan Stanley raised its stake in Target by 2.9% during the fourth quarter. Morgan Stanley now owns 6,481,880 shares of the retailer’s stock valued at $966,059,000 after buying an additional 183,575 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Target by 8.3% in the fourth quarter. Franklin Resources Inc. now owns 5,312,494 shares of the retailer’s stock worth $791,774,000 after purchasing an additional 407,053 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Target by 3.4% in the first quarter. Fisher Asset Management LLC now owns 5,269,026 shares of the retailer’s stock worth $872,709,000 after purchasing an additional 175,043 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
Target Stock Performance
Shares of NYSE:TGT traded up $0.29 during midday trading on Friday, reaching $133.02. 1,830,650 shares of the company’s stock traded hands, compared to its average volume of 4,210,266. The company has a market cap of $61.40 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 1.07 and a beta of 1.01. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.18 and a current ratio of 0.88. Target Co. has a one year low of $125.08 and a one year high of $183.89. The stock has a 50 day moving average of $132.90 and a 200 day moving average of $152.45.
Target (NYSE:TGT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 17th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. Target had a return on equity of 24.49% and a net margin of 2.49%. The firm had revenue of $24.95 billion for the quarter, compared to the consensus estimate of $25.28 billion. During the same period in the prior year, the company posted $2.19 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities research analysts anticipate that Target Co. will post 8.1 EPS for the current fiscal year.
Target Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.31%. This is an increase from Target’s previous quarterly dividend of $1.08. Target’s payout ratio is presently 74.96%.
Analyst Ratings Changes
TGT has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price target on Target from $191.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer lowered their price target on shares of Target from $190.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday. Raymond James lowered shares of Target from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 26th. Citigroup lowered shares of Target from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $177.00 to $130.00 in a report on Friday, June 9th. Finally, StockNews.com downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Thursday. Sixteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $175.54.
Get Our Latest Research Report on TGT
Insider Activity at Target
In other Target news, CAO Matthew A. Liegel sold 1,459 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $160.75, for a total transaction of $234,534.25. Following the sale, the chief accounting officer now directly owns 3,748 shares of the company’s stock, valued at approximately $602,491. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by 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.
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