Target Corporation (TGT) Shares Sold by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD lowered its position in Target Corporation (NYSE:TGT) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,897 shares of the retailer’s stock after selling 2,159 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Target Corporation were worth $2,243,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC increased its stake in Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the last quarter. Pinnacle Bank purchased a new stake in Target Corporation during the first quarter worth approximately $123,000. Peoples Financial Services CORP. increased its stake in Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.
Target Corporation (NYSE TGT) opened at 55.65 on Monday. The stock’s 50 day moving average is $54.12 and its 200 day moving average is $56.47. The company has a market cap of $30.70 billion, a PE ratio of 11.40 and a beta of 0.61. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The company had revenue of $16.02 billion for the quarter, compared to analyst estimates of $15.63 billion. During the same period in the prior year, the business earned $1.29 earnings per share. Target Corporation’s quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts predict that Target Corporation will post $4.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.46%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio is presently 48.98%.
A number of research firms have recently commented on TGT. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price objective for the company in a report on Monday, June 19th. ValuEngine downgraded Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird restated a “neutral” rating and set a $55.00 price objective on shares of Target Corporation in a report on Friday, July 14th. Finally, Cowen and Company restated a “market perform” rating and set a $64.00 price objective on shares of Target Corporation in a report on Friday, July 14th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $61.99.
In other news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.
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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