Target Corporation (TGT) Shares Sold by Comerica Bank
Comerica Bank cut its holdings in shares of Target Corporation (NYSE:TGT) by 43.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,323 shares of the retailer’s stock after selling 195,985 shares during the quarter. Comerica Bank’s holdings in Target Corporation were worth $13,909,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. OLD National Bancorp IN raised 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 valued at $3,440,000 after purchasing an additional 7,547 shares in the last quarter. ING Groep NV raised 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 valued at $421,000 after purchasing an additional 4,071 shares in the last quarter. Honeywell International Inc. raised 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 valued at $36,707,000 after purchasing an additional 205,700 shares in the last quarter. Cascade Investment Advisors Inc. raised 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 valued at $1,349,000 after purchasing an additional 4,685 shares in the last quarter. Finally, Tufton Capital Management raised 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 valued at $8,828,000 after purchasing an additional 15,137 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.
Target Corporation (TGT) opened at 57.27 on Friday. The company has a 50-day moving average price of $56.11 and a 200 day moving average price of $55.29. The company has a market cap of $31.28 billion, a PE ratio of 11.57 and a beta of 0.60. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter in the previous year, the company posted $1.23 EPS. The business’s revenue was up 1.6% on a year-over-year basis. On average, analysts forecast that Target Corporation will post $4.51 EPS for the current fiscal year.
The business 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is 50.00%.
A number of research analysts recently commented on the company. Vetr lowered Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price for the company. in a research note on Monday, August 7th. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. 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 note on Thursday, August 17th. BMO Capital Markets restated a “market perform” rating and issued a $67.00 target price (up from $62.00) on shares of Target Corporation in a research note on Friday, August 18th. Finally, Zacks Investment Research upgraded Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus 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 company’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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.
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.
Receive News & Stock Ratings for Target Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target Corporation and related stocks with our FREE daily email newsletter.