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

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

Other hedge funds also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Target in the 4th quarter valued at approximately $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the 4th quarter valued at approximately $29,000. Legacy Investment Solutions LLC boosted its stake in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Target in the 4th quarter valued at approximately $36,000. Finally, Compass Financial Services Inc acquired a new stake in shares of Target in the 4th quarter valued at approximately $40,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on TGT. KGI Securities set a $132.00 target price on shares of Target in a research report on Wednesday, March 5th. Baird R W downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. The Goldman Sachs Group cut their target price on shares of Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their target price on shares of Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $116.70.

Target Stock Up 4.1%

Target stock opened at $97.33 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40. The firm’s fifty day moving average is $95.24 and its 200 day moving average is $116.12. The company has a market capitalization of $44.22 billion, a PE ratio of 10.32, a PEG ratio of 1.94 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). The business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 EPS. As a group, sell-side analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were paid a dividend of $1.12 per share. The ex-dividend date was Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.60%. Target’s dividend payout ratio (DPR) is presently 49.23%.

Insider Transactions at Target

In other 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 sale, the insider now owns 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.