Target Corporation (NYSE:TGT) Shares Sold by Northeast Financial Group Inc.

Northeast Financial Group Inc. reduced its stake in Target Corporation (NYSE:TGT) by 39.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,023 shares of the retailer’s stock after selling 4,558 shares during the period. Northeast Financial Group Inc.’s holdings in Target were worth $733,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. grew its stake in shares of Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after acquiring an additional 12,825,586 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after acquiring an additional 3,065,035 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Target during the first quarter valued at about $186,361,000. Ameriprise Financial Inc. grew its stake in shares of Target by 61.2% during the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after acquiring an additional 1,506,275 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Target by 35.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after acquiring an additional 1,406,653 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

NYSE TGT opened at $105.45 on Friday. The stock has a market cap of $47.91 billion, a P/E ratio of 11.59, a PEG ratio of 3.01 and a beta of 1.22. The company’s 50-day simple moving average is $100.79 and its 200 day simple moving average is $106.09. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.03 EPS. As a group, research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders 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 dividend yield of 4.2%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio is presently 49.23%.

Analyst Upgrades and Downgrades

TGT has been the topic of several research analyst reports. Truist Financial increased 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. DA Davidson reduced their price target on shares of Target from $140.00 to $125.00 and set a “buy” rating on the stock 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. JPMorgan Chase & Co. increased their price target 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, Loop Capital set a $95.00 price target on shares of Target in a research report on Thursday, July 17th. Three investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $115.65.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

About Target

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.