Advisors Asset Management Inc. Sells 17,204 Shares of Target Corporation (TGT)
Advisors Asset Management Inc. trimmed its position in Target Corporation (NYSE:TGT) by 16.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,496 shares of the retailer’s stock after selling 17,204 shares during the period. Advisors Asset Management Inc.’s holdings in Target Corporation were worth $4,523,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. OLD National Bancorp IN grew its stake in shares of Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock worth $3,440,000 after acquiring an additional 7,547 shares during the last quarter. ING Groep NV grew its stake in shares of Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock worth $421,000 after acquiring an additional 4,071 shares during the last quarter. Honeywell International Inc. grew its stake in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock worth $36,707,000 after acquiring an additional 205,700 shares during the last quarter. Cascade Investment Advisors Inc. grew its stake in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock worth $1,349,000 after acquiring an additional 4,685 shares during the last quarter. Finally, Tufton Capital Management grew its stake in shares of Target Corporation by 10.5% in the first quarter. Tufton Capital Management now owns 159,956 shares of the retailer’s stock worth $8,828,000 after acquiring an additional 15,137 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.
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A number of research firms have recently commented on TGT. UBS AG reissued a “neutral” rating and issued a $56.00 target price (down from $60.00) on shares of Target Corporation in a research note on Tuesday, June 20th. BidaskClub cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price on the stock. in a research note on Monday, August 7th. Stifel Nicolaus reissued a “hold” rating and issued a $60.00 target price (up from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. Finally, Gordon Haskett raised Target Corporation from a “sell” rating to a “hold” rating and increased their target price for the stock from $47.00 to $58.00 in a research note on Wednesday, August 16th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $61.64.
In other 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 value of $137,359.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
Target Corporation (TGT) opened at 58.02 on Thursday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The stock has a 50 day moving average price of $55.91 and a 200 day moving average price of $55.25. The company has a market cap of $31.69 billion, a P/E ratio of 11.72 and a beta of 0.60.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 EPS. On average, equities research analysts anticipate that Target Corporation will post $4.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is 50.00%.
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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