Charter Trust Co. Has $523,000 Position in Target Corporation (TGT)
Charter Trust Co. decreased its position in shares of Target Corporation (NYSE:TGT) by 31.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,010 shares of the retailer’s stock after selling 4,653 shares during the period. Charter Trust Co.’s holdings in Target Corporation were worth $523,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Feltz Wealth PLAN Inc. purchased a new position in Target Corporation during the first quarter worth $138,000. Coastline Trust Co boosted its position in Target Corporation by 8.7% in the first quarter. Coastline Trust Co now owns 5,370 shares of the retailer’s stock worth $296,000 after buying an additional 430 shares during the period. Bank of The West boosted its position in Target Corporation by 1.9% in the first quarter. Bank of The West now owns 7,416 shares of the retailer’s stock worth $410,000 after buying an additional 140 shares during the period. DnB Asset Management AS boosted its position in Target Corporation by 12.6% in the first quarter. DnB Asset Management AS now owns 60,880 shares of the retailer’s stock worth $3,360,000 after buying an additional 6,800 shares during the period. Finally, Somerset Trust Co boosted its position in Target Corporation by 1.9% in the first quarter. Somerset Trust Co now owns 14,822 shares of the retailer’s stock worth $818,000 after buying an additional 277 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.
Target Corporation (NYSE TGT) traded down 0.84% during mid-day trading on Friday, hitting $55.65. 4,738,485 shares of the company’s stock traded hands. The stock has a market cap of $30.40 billion, a PE ratio of 11.24 and a beta of 0.61. The firm’s 50-day moving average price is $54.68 and its 200-day moving average price is $56.16. Target Corporation has a one year low of $48.56 and a one year high of $79.33.
Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, analysts forecast that Target Corporation will post $4.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 annualized dividend and a yield of 4.46%. Target Corporation’s payout ratio is presently 50.00%.
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A number of research analysts have weighed in on the stock. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective on the stock in a research report on Wednesday, May 10th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Gordon Haskett assumed coverage on shares of Target Corporation in a research report on Tuesday, May 9th. They set a “sell” rating and a $47.00 price objective on the stock. MKM Partners boosted their price objective on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $67.00 price objective (up previously from $62.00) on shares of Target Corporation in a research report on Friday. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $61.64.
In related news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by 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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