Neuberger Berman Group LLC Sells 8,141 Shares of Target Corporation (NYSE:TGT)
Neuberger Berman Group LLC reduced its position in shares of Target Corporation (NYSE:TGT) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 358,690 shares of the retailer’s stock after selling 8,141 shares during the period. Neuberger Berman Group LLC owned approximately 0.06% of Target Corporation worth $19,796,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in TGT. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Target Corporation by 34.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 76,788 shares of the retailer’s stock worth $5,520,000 after buying an additional 19,473 shares during the last quarter. Guggenheim Capital LLC raised its stake in Target Corporation by 10.8% in the fourth quarter. Guggenheim Capital LLC now owns 933,698 shares of the retailer’s stock valued at $67,441,000 after buying an additional 90,754 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in Target Corporation during the fourth quarter valued at about $166,000. Ancora Advisors LLC purchased a new stake in Target Corporation during the fourth quarter valued at about $505,000. Finally, Seven Eight Capital LP purchased a new stake in Target Corporation during the fourth quarter valued at about $1,421,000. 82.63% of the stock is currently owned by institutional investors.
Target Corporation (TGT) traded up 1.49% on Tuesday, reaching $58.74. The company’s stock had a trading volume of 8,129,319 shares. The firm’s 50-day moving average price is $53.26 and its 200-day moving average price is $56.79. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The stock has a market cap of $32.41 billion, a price-to-earnings ratio of 12.04 and a beta of 0.61.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. During the same period last year, the business posted $1.29 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. On average, equities analysts expect that Target Corporation will post $4.37 earnings per share for the current year.
The company 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. The ex-dividend date is Monday, August 14th. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.22%. Target Corporation’s dividend payout ratio (DPR) is currently 48.98%.
Several equities research analysts recently issued reports on the company. Vetr lowered Target Corporation from a “buy” rating to a “hold” rating and set a $59.51 price target on the stock. in a research report on Tuesday, May 9th. ValuEngine downgraded Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Finally, Cowen and Company reissued a “market perform” rating and issued a $64.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.99.
In related news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.
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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