Chickasaw Capital Management LLC Increases Position in Target Corporation (TGT)
Chickasaw Capital Management LLC boosted its stake in shares of Target Corporation (NYSE:TGT) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,600 shares of the retailer’s stock after buying an additional 200 shares during the period. Chickasaw Capital Management LLC’s holdings in Target Corporation were worth $502,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cribstone Capital Management LLC raised its position 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 period. Reilly Financial Advisors LLC raised its position 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 period. Pinnacle Bank bought a new position in Target Corporation during the first quarter worth $123,000. Peoples Financial Services CORP. raised its position 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 period. Finally, Penserra Capital Management LLC raised its position 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 period. 82.59% of the stock is owned by institutional investors and hedge funds.
Target Corporation (NYSE:TGT) opened at 56.12 on Friday. The company has a 50 day moving average price of $54.58 and a 200-day moving average price of $56.22. The company has a market capitalization of $30.65 billion, a P/E ratio of 11.34 and a beta of 0.61. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Target Corporation’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts anticipate that Target Corporation will post $4.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is presently 50.61%.
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A number of equities analysts recently weighed in on the company. UBS AG reiterated a “neutral” rating and issued a $56.00 price target (down previously from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. Vetr lowered Target Corporation from a “buy” rating to a “hold” rating and set a $59.66 price target for the company. in a research report on Monday, June 12th. MKM Partners increased their price target on Target Corporation to $69.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price target (up previously from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Finally, Citigroup Inc. lowered Target Corporation from a “buy” rating to a “neutral” rating and increased their price target for the company from $51.00 to $56.00 in a research report on Wednesday, June 21st. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.36.
In related news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% 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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