Target Corporation (TGT) Shares Sold by Checchi Capital Advisers LLC
Checchi Capital Advisers LLC lowered its position in shares of Target Corporation (NYSE:TGT) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,879 shares of the retailer’s stock after selling 560 shares during the period. Checchi Capital Advisers LLC’s holdings in Target Corporation were worth $435,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in Target Corporation by 0.3% in the fourth quarter. State Street Corp now owns 51,198,488 shares of the retailer’s stock worth $3,698,062,000 after buying an additional 145,625 shares during the last quarter. Dodge & Cox purchased a new position in Target Corporation during the fourth quarter worth about $788,237,000. Norges Bank bought a new position in shares of Target Corporation during the fourth quarter worth $460,220,000. LSV Asset Management boosted its position in shares of Target Corporation by 4.7% in the first quarter. LSV Asset Management now owns 5,727,335 shares of the retailer’s stock worth $316,091,000 after buying an additional 259,192 shares in the last quarter. Finally, Mairs & Power INC boosted its position in shares of Target Corporation by 0.5% in the third quarter. Mairs & Power INC now owns 2,533,061 shares of the retailer’s stock worth $173,971,000 after buying an additional 12,970 shares in the last quarter. 83.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Target Corporation (NYSE:TGT) opened at 57.86 on Thursday. Target Corporation has a one year low of $52.72 and a one year high of $79.33. The firm has a 50 day moving average price of $55.93 and a 200 day moving average price of $62.11. The company has a market capitalization of $31.92 billion, a P/E ratio of 11.86 and a beta of 0.58.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. On average, equities research analysts predict that Target Corporation will post $4.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is presently 48.98%.
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Several brokerages have recently issued reports on TGT. Instinet reduced their price target on Target Corporation to $60.00 in a report on Wednesday, March 1st. Morgan Stanley reduced their price target on Target Corporation from $65.00 to $52.00 and set an “underweight” rating for the company in a report on Wednesday, March 1st. Stifel Nicolaus reduced their price target on Target Corporation from $72.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, March 1st. Jefferies Group LLC restated a “hold” rating and issued a $56.00 target price on shares of Target Corporation in a report on Wednesday, March 1st. Finally, Goldman Sachs Group, Inc. (The) set a $53.00 target price on Target Corporation and gave the stock a “sell” rating in a report on Wednesday, March 1st. Six equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Target Corporation has a consensus rating of “Hold” and a consensus price target of $64.68.
Target Corporation 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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