Target Corporation (NYSE:TGT) Holdings Cut by LPL Financial LLC

by · The Markets Daily

LPL Financial LLC lowered its holdings in Target Corporation (NYSE:TGT – Free Report) by 18.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 601,560 shares of the retailer’s stock after selling 139,946 shares during the period. LPL Financial LLC’s holdings in Target were worth $62,494,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TGT. Capital World Investors raised its holdings in shares of Target by 6.3% during the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock valued at $2,964,565,000 after buying an additional 1,306,552 shares during the last quarter. FMR LLC raised its holdings in shares of Target by 13.6% during the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after buying an additional 1,358,348 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Target by 16.3% during the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer’s stock valued at $726,814,000 after buying an additional 754,883 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Target by 21.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,823,264 shares of the retailer’s stock valued at $652,014,000 after buying an additional 840,484 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings 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 buying an additional 1,506,275 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TGT. Loop Capital set a $95.00 price target on Target in a report on Thursday, July 17th. Wells Fargo & Company lowered their price objective on shares of Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Bank of America lowered shares of Target from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $105.00 in a research note on Thursday, May 22nd. Mizuho lowered their price objective on shares of Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada lowered their price objective on shares of Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and a consensus price target of $115.65.

Check Out Our Latest Report on Target

Insider Activity

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider owned 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Target Trading Down 2.5%

NYSE TGT opened at $100.58 on Friday. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a market cap of $45.70 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 2.95 and a beta of 1.22. The firm’s 50 day moving average price is $99.83 and its two-hundred day moving average price is $107.61.

Target (NYSE:TGT – Get Free Report) last issued its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $2.03 EPS. Equities analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.5%. Target’s dividend payout ratio (DPR) is 49.23%.

About Target

(Free Report)

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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