Abundance Wealth Counselors Has $706,000 Stake in Target Corporation (NYSE:TGT)

Abundance Wealth Counselors boosted its holdings in shares of Target Corporation (NYSE:TGT) by 13.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,574 shares of the retailer’s stock after purchasing an additional 755 shares during the period. Abundance Wealth Counselors’ holdings in Target were worth $706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors 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 $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the 4th quarter valued at $29,000. Legacy Investment Solutions LLC increased 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 buying an additional 85 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Target in the 4th quarter valued at $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Target in the 4th quarter valued at $40,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider now owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Target Stock Performance

TGT opened at $95.22 on Friday. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The firm has a market capitalization of $43.26 billion, a PE ratio of 10.46, a PEG ratio of 2.74 and a beta of 1.22. 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 business’s 50-day simple moving average is $95.62 and its 200 day simple moving average is $114.26.

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

Target Announces Dividend

The company 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 $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s payout ratio is 49.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. DA Davidson lowered their target price on Target from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, May 22nd. Evercore ISI lowered their target price on Target from $130.00 to $120.00 and set an “in-line” rating for the company in a research note on Tuesday, April 1st. Guggenheim reduced their price target on Target from $155.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, May 27th. Stifel Nicolaus decreased their price objective on Target from $130.00 to $120.00 and set a “hold” rating for the company in a research note on Thursday, March 20th. Finally, BMO Capital Markets decreased their price objective on Target from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $116.70.

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.