Target Corporation (NYSE:TGT) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its stake in shares of Target Corporation (NYSE:TGT) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,410 shares of the retailer’s stock after selling 3,266 shares during the quarter. Neuberger Berman Group LLC’s holdings in Target were worth $9,748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors grew its stake in Target by 6.3% during the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock worth $2,964,565,000 after purchasing an additional 1,306,552 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares in the last quarter. Northern Trust Corp grew its stake in Target by 16.3% during the 4th quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer’s stock worth $726,814,000 after purchasing an additional 754,883 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock worth $560,420,000 after purchasing an additional 1,406,653 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Target by 21.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,823,264 shares of the retailer’s stock worth $652,014,000 after purchasing an additional 840,484 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TGT shares. BMO Capital Markets lowered their target price 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. DA Davidson lowered their price objective on Target from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Loop Capital set a $95.00 price objective on Target in a research report on Thursday, July 17th. Mizuho lowered their price objective on Target from $92.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, Wall Street Zen cut Target from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Target presently has an average rating of “Hold” and a consensus target price of $115.81.

Target Stock Performance

Shares of TGT stock opened at $104.29 on Friday. The company has a market cap of $47.38 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 3.02 and a beta of 1.22. The stock has a 50 day simple moving average of $101.66 and a 200-day simple moving average of $105.38. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT) 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 business had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $2.03 earnings per share. On average, equities analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.3%. Target’s dividend payout ratio is currently 50.11%.

Insider Buying and Selling at Target

In related 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 sale, the insider owned 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 at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Target 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.