Cigna Investments Inc. New Acquires New Position in Target Corporation (TGT)
Cigna Investments Inc. New acquired a new stake in Target Corporation (NYSE:TGT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 30,667 shares of the retailer’s stock, valued at approximately $1,604,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Penserra Capital Management LLC raised its stake in Target Corporation by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock valued at $129,000 after purchasing an additional 204 shares during the last quarter. Davidson Investment Advisors raised its stake in Target Corporation by 18.5% in the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after purchasing an additional 400 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in Target Corporation by 19.1% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after purchasing an additional 445 shares during the last quarter. Washington Trust Bank raised its stake in Target Corporation by 105.6% in the 2nd quarter. Washington Trust Bank now owns 3,067 shares of the retailer’s stock valued at $160,000 after purchasing an additional 1,575 shares during the last quarter. Finally, Massey Quick & Co. LLC acquired a new position in Target Corporation in the 1st quarter valued at $180,000. 83.30% of the stock is owned by hedge funds and other institutional investors.
Target Corporation (NYSE TGT) opened at 56.22 on Monday. The company’s 50-day moving average price is $55.62 and its 200-day moving average price is $55.51. The stock has a market capitalization of $30.71 billion, a PE ratio of 11.36 and a beta of 0.60. Target Corporation has a one year low of $48.56 and a one year high of $79.33.
Target Corporation (NYSE:TGT) last released its 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. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that Target Corporation will post $4.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.41%. 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. Target Corporation’s payout ratio is 50.00%.
Several research firms recently commented on TGT. Jefferies Group LLC reissued a “hold” rating on shares of Target Corporation in a research note on Friday, August 25th. Zacks Investment Research downgraded Target Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Stifel Nicolaus reissued a “hold” rating and issued a $60.00 price objective (up from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. BMO Capital Markets reissued a “market perform” rating and issued a $67.00 price objective (up from $62.00) on shares of Target Corporation in a research note on Friday, August 18th. Finally, Vetr downgraded Target Corporation from a “buy” rating to a “hold” rating and set a $57.89 price objective for the company. in a research note on Thursday, August 17th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have assigned a buy rating to the company. The stock 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 business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.
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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