Grandfield & Dodd LLC Has $292,000 Position in Target Co. (TGT)
Grandfield & Dodd LLC decreased its position in shares of Target Co. (NYSE:TGT) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,286 shares of the retailer’s stock after selling 50 shares during the period. Grandfield & Dodd LLC’s holdings in Target were worth $292,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LSV Asset Management increased its stake in shares of Target by 6.4% in the third quarter. LSV Asset Management now owns 4,849,168 shares of the retailer’s stock valued at $333,040,000 after buying an additional 292,180 shares during the last quarter. Aviance Capital Partners LLC increased its stake in shares of Target by 3.9% in the third quarter. Aviance Capital Partners LLC now owns 18,321 shares of the retailer’s stock valued at $1,258,000 after buying an additional 692 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Target by 1.7% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 112,116 shares of the retailer’s stock valued at $7,700,000 after buying an additional 1,925 shares during the last quarter. Aetna Inc. PA acquired a new stake in shares of Target during the fourth quarter valued at $10,470,000. Finally, Prospera Financial Services Inc increased its stake in shares of Target by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock valued at $442,000 after buying an additional 1,844 shares during the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
Shares of Target Co. (NYSE:TGT) traded up 0.13% on Thursday, reaching $54.20. The company’s stock had a trading volume of 7,360,357 shares. Target Co. has a 52-week low of $52.72 and a 52-week high of $79.33. The company has a 50 day moving average price of $55.26 and a 200 day moving average price of $63.86. The company has a market cap of $29.90 billion, a P/E ratio of 11.11 and a beta of 0.63.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.30. Target had a return on equity of 25.18% and a net margin of 4.75%. The firm had revenue of $16.02 billion for the quarter, compared to the consensus estimate of $15.63 billion. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts anticipate that Target Co. will post $4.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, May 15th. Target’s payout ratio is 42.93%.
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A number of analysts have recently commented on the company. Vetr downgraded Target from a “strong-buy” rating to a “buy” rating and set a $60.11 price objective on the stock. in a research note on Monday, April 10th. Zacks Investment Research downgraded Target from a “hold” rating to a “strong sell” rating in a research note on Monday, March 20th. Buckingham Research reissued a “buy” rating and issued a $71.00 price objective on shares of Target in a research note on Wednesday, April 19th. Morgan Stanley dropped their price objective on Target from $65.00 to $52.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 1st. Finally, Barclays PLC dropped their price objective on Target from $60.00 to $50.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 1st. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $65.49.
In other Target news, insider Don H. Liu purchased 2,000 shares of Target stock in a transaction that occurred on Thursday, March 2nd. The stock was acquired at an average price of $58.20 per share, for a total transaction of $116,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald R. Knauss purchased 10,000 shares of Target stock in a transaction that occurred on Thursday, March 9th. The shares were acquired at an average price of $54.86 per share, with a total value of $548,600.00. Following the acquisition, the director now directly owns 16,431 shares of the company’s stock, valued at approximately $901,404.66. The disclosure for this purchase can be found here. Insiders bought a total of 19,000 shares of company stock valued at $1,073,750 in the last 90 days. 0.25% of the stock is owned by corporate insiders.
Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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