Target Corporation (TGT) Stake Boosted by Country Club Trust Company n.a.
Country Club Trust Company n.a. raised its position in shares of Target Corporation (NYSE:TGT) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 178,064 shares of the retailer’s stock after buying an additional 2,263 shares during the period. Target Corporation accounts for 1.4% of Country Club Trust Company n.a.’s portfolio, making the stock its 23rd largest position. Country Club Trust Company n.a.’s holdings in Target Corporation were worth $9,311,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital One National Association increased its position in Target Corporation by 55.4% in the second quarter. Capital One National Association now owns 8,461 shares of the retailer’s stock worth $442,000 after buying an additional 3,017 shares during the period. Narus Financial Partners LLC increased its position in Target Corporation by 57.4% in the second quarter. Narus Financial Partners LLC now owns 9,687 shares of the retailer’s stock worth $507,000 after buying an additional 3,533 shares during the period. Hexavest Inc. acquired a new position in Target Corporation during the second quarter worth approximately $41,629,000. Beacon Financial Group increased its position in Target Corporation by 1.9% in the second quarter. Beacon Financial Group now owns 9,519 shares of the retailer’s stock worth $496,000 after buying an additional 178 shares during the period. Finally, Trust Co increased its position in Target Corporation by 3.7% in the first quarter. Trust Co now owns 28,603 shares of the retailer’s stock worth $1,579,000 after buying an additional 1,012 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Target Corporation (TGT) traded up 2.507% during mid-day trading on Monday, reaching $57.045. 2,684,433 shares of the company’s stock traded hands. The firm’s 50-day moving average is $54.68 and its 200 day moving average is $56.16. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The firm has a market cap of $31.16 billion, a price-to-earnings ratio of 11.527 and a beta of 0.61.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The company had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 earnings per share. Analysts predict that Target Corporation will post $4.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be paid a $0.62 dividend. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.46%. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio is currently 50.00%.
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A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus reissued a “hold” rating and set a $60.00 target price (up previously from $58.00) on shares of Target Corporation in a research report on Friday. BMO Capital Markets reissued a “market perform” rating and set a $67.00 target price (up previously from $62.00) on shares of Target Corporation in a research report on Friday. Vetr downgraded shares of Target Corporation from a “buy” rating to a “hold” rating and set a $57.89 target price on the stock. in a research report on Thursday. Finally, MKM Partners raised their target price on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the company. Target Corporation has an average rating of “Hold” and an average target price of $61.64.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.
About Target Corporation
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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