National Pension Service Increases Position in Target Corporation (TGT)
National Pension Service increased its stake in shares of Target Corporation (NYSE:TGT) by 11.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 506,261 shares of the retailer’s stock after buying an additional 51,649 shares during the period. National Pension Service owned 0.09% of Target Corporation worth $26,371,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Welch & Forbes LLC boosted its stake in Target Corporation by 0.3% in the first quarter. Welch & Forbes LLC now owns 8,150 shares of the retailer’s stock valued at $450,000 after buying an additional 24 shares during the last quarter. Compton Capital Management Inc. RI boosted its stake in Target Corporation by 0.4% in the first quarter. Compton Capital Management Inc. RI now owns 8,824 shares of the retailer’s stock valued at $487,000 after buying an additional 32 shares during the last quarter. TRUE Private Wealth Advisors boosted its stake in Target Corporation by 0.9% in the first quarter. TRUE Private Wealth Advisors now owns 4,488 shares of the retailer’s stock valued at $238,000 after buying an additional 38 shares during the last quarter. WealthTrust Fairport LLC boosted its stake in Target Corporation by 0.9% in the first quarter. WealthTrust Fairport LLC now owns 5,958 shares of the retailer’s stock valued at $329,000 after buying an additional 55 shares during the last quarter. Finally, Carlson Capital Management boosted its stake in Target Corporation by 0.9% in the second quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock valued at $421,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.
Shares of Target Corporation (NYSE TGT) traded up 1.48% during mid-day trading on Friday, hitting $55.01. 6,979,927 shares of the company were exchanged. The company’s 50-day moving average price is $55.11 and its 200-day moving average price is $55.88. The firm has a market capitalization of $30.05 billion, a P/E ratio of 11.12 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 also was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 27,938 put options on the company. This is an increase of 146% compared to the average volume of 11,363 put options.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 EPS. Equities research analysts predict that Target Corporation will post $4.50 earnings per share for the current fiscal year.
The firm 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 $0.62 dividend. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.51%. Target Corporation’s dividend payout ratio is currently 50.00%.
Several equities research analysts recently weighed in on the stock. UBS AG reiterated a “neutral” rating and issued a $56.00 target price (down previously from $60.00) on shares of Target Corporation in a research note on Tuesday, June 20th. Vetr cut shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.66 price target for the company. in a research note on Monday, June 12th. BMO Capital Markets restated a “market perform” rating and set a $67.00 price target (up previously from $62.00) on shares of Target Corporation in a research note on Friday, August 18th. Stifel Nicolaus restated a “hold” rating and set a $60.00 price target (up previously from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. Finally, Jefferies Group LLC restated a “hold” rating on shares of Target Corporation in a research note on Friday. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $61.64.
In other news, insider Robert M. Harrison sold 2,639 shares of the company’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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is 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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