Target Corporation (TGT) Stake Lessened by First Personal Financial Services
First Personal Financial Services lowered its position in Target Corporation (NYSE:TGT) by 4.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,007 shares of the retailer’s stock after selling 100 shares during the period. First Personal Financial Services’ holdings in Target Corporation were worth $105,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ballentine Partners LLC lifted its position in shares of Target Corporation by 12.1% in the 2nd quarter. Ballentine Partners LLC now owns 6,274 shares of the retailer’s stock worth $348,000 after purchasing an additional 677 shares during the period. Highstreet Asset Management Inc. acquired a new position in shares of Target Corporation in the 2nd quarter worth approximately $1,142,000. Legal & General Group Plc lifted its position in shares of Target Corporation by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 3,474,227 shares of the retailer’s stock worth $181,661,000 after purchasing an additional 234,432 shares during the period. Alps Advisors Inc. lifted its position in shares of Target Corporation by 65.7% in the 2nd quarter. Alps Advisors Inc. now owns 8,911 shares of the retailer’s stock worth $466,000 after purchasing an additional 3,534 shares during the period. Finally, Denver Investment Advisors LLC lifted its position in shares of Target Corporation by 39.9% in the 2nd quarter. Denver Investment Advisors LLC now owns 227,607 shares of the retailer’s stock worth $11,902,000 after purchasing an additional 64,881 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Shares of Target Corporation (NYSE TGT) opened at 57.27 on Friday. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock has a market capitalization of $31.28 billion, a P/E ratio of 11.57 and a beta of 0.60. The firm’s 50-day moving average is $56.11 and its 200 day moving average is $55.29.
Target Corporation (NYSE:TGT) last released its quarterly 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 business had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. On average, equities research analysts forecast that Target Corporation will post $4.51 EPS for the current fiscal 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 paid a dividend of $0.62 per share. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s payout ratio is currently 50.00%.
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A number of brokerages have recently issued reports on TGT. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price target on the stock in a research report on Monday, June 19th. ValuEngine downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of Target Corporation in a research report on Friday, July 14th. Finally, MKM Partners boosted their target price on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. The stock presently 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 available through this link. Insiders own 0.25% 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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