Target Corporation (TGT) Position Reduced by Enterprise Financial Services Corp
Enterprise Financial Services Corp decreased its stake in shares of Target Corporation (NYSE:TGT) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,636 shares of the retailer’s stock after selling 340 shares during the period. Enterprise Financial Services Corp’s holdings in Target Corporation were worth $242,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Penserra Capital Management LLC raised its position in shares of Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock valued at $129,000 after buying an additional 204 shares in the last quarter. Davidson Investment Advisors raised its position in shares of Target Corporation by 18.5% in the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after buying an additional 400 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in shares of Target Corporation by 19.1% in the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after buying an additional 445 shares in the last quarter. Washington Trust Bank raised its position in shares of Target Corporation by 105.6% in the second quarter. Washington Trust Bank now owns 3,067 shares of the retailer’s stock valued at $160,000 after buying an additional 1,575 shares in the last quarter. Finally, Massey Quick & Co. LLC acquired a new position in shares of Target Corporation during the first quarter valued at about $180,000. 83.30% of the stock is currently owned by institutional investors.
Target Corporation (TGT) opened at 54.32 on Thursday. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The firm’s 50-day moving average price is $55.11 and its 200-day moving average price is $55.88. The stock has a market cap of $29.67 billion, a P/E ratio of 10.98 and a beta of 0.61.
Target Corporation (NYSE:TGT) last issued 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 during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. On average, analysts predict that Target Corporation will post $4.51 earnings per share for the current 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 issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.57%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio (DPR) is presently 50.00%.
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TGT has been the topic of several recent analyst reports. Zacks Investment Research raised Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Tuesday, June 6th. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 target price on the stock in a research report on Wednesday, May 10th. BidaskClub raised Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Finally, MKM Partners upped their target price on Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $61.64.
In related news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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