Cascade Investment Advisors Inc. Increases Stake in Target Corporation (TGT)
Cascade Investment Advisors Inc. boosted its position in Target Corporation (NYSE:TGT) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,845 shares of the retailer’s stock after buying an additional 400 shares during the period. Cascade Investment Advisors Inc.’s holdings in Target Corporation were worth $1,299,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Monarch Capital Management Inc. boosted its position in shares of Target Corporation by 8.0% in the first quarter. Monarch Capital Management Inc. now owns 20,245 shares of the retailer’s stock worth $1,117,000 after buying an additional 1,500 shares in the last quarter. Murphy Pohlad Asset Management LLC boosted its position in shares of Target Corporation by 55.6% in the first quarter. Murphy Pohlad Asset Management LLC now owns 37,888 shares of the retailer’s stock worth $2,091,000 after buying an additional 13,545 shares in the last quarter. Northern Capital Management LLC boosted its position in shares of Target Corporation by 67.9% in the first quarter. Northern Capital Management LLC now owns 22,900 shares of the retailer’s stock worth $1,264,000 after buying an additional 9,260 shares in the last quarter. Hollencrest Securities LLC bought a new position in shares of Target Corporation during the first quarter worth approximately $1,016,000. Finally, Adams Asset Advisors LLC boosted its position in shares of Target Corporation by 12.1% in the first quarter. Adams Asset Advisors LLC now owns 57,373 shares of the retailer’s stock worth $3,166,000 after buying an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 83.30% of the company’s stock.
Target Corporation (TGT) traded down 0.26% during mid-day trading on Tuesday, hitting $54.30. 1,132,552 shares of the stock traded hands. The stock has a 50-day moving average price of $55.11 and a 200-day moving average price of $55.88. The stock has a market cap of $29.66 billion, a P/E ratio of 10.97 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, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion during 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%. Target Corporation’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. On average, equities analysts forecast that Target Corporation will post $4.51 earnings per share for the current year.
The firm also recently disclosed 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 is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.56%. Target Corporation’s dividend payout ratio (DPR) is 50.00%.
A number of equities analysts recently commented on TGT shares. BidaskClub raised Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price on the stock. in a report on Monday, August 7th. Zacks Investment Research raised Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Target Corporation in a report on Friday. Finally, Gordon Haskett started coverage on Target Corporation in a report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 target price on the stock. Five research 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. The stock 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 firm’s stock in a transaction dated Wednesday, July 5th. The shares were 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 Securities & Exchange Commission, which is available at the SEC website. Company 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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