Tocqueville Asset Management L.P. Boosts Position in Target Corporation (TGT)
Tocqueville Asset Management L.P. boosted its position in shares of Target Corporation (NYSE:TGT) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 363,969 shares of the retailer’s stock after acquiring an additional 54,156 shares during the quarter. Tocqueville Asset Management L.P. owned 0.07% of Target Corporation worth $19,032,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of TGT. Financial Architects Inc increased its position in Target Corporation by 1,569.2% during the first quarter. Financial Architects Inc now owns 10,850 shares of the retailer’s stock valued at $599,000 after acquiring an additional 10,200 shares during the last quarter. IFP Advisors Inc increased its position in Target Corporation by 46.3% during the first quarter. IFP Advisors Inc now owns 26,600 shares of the retailer’s stock valued at $1,468,000 after acquiring an additional 8,422 shares during the last quarter. Breton Hill Capital Ltd. purchased a new stake in Target Corporation during the first quarter valued at $374,000. BTC Capital Management Inc. increased its position in Target Corporation by 346.2% during the first quarter. BTC Capital Management Inc. now owns 15,466 shares of the retailer’s stock valued at $853,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its position in Target Corporation by 54.2% during the first quarter. Hennessy Advisors Inc. now owns 113,500 shares of the retailer’s stock valued at $6,264,000 after acquiring an additional 39,900 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.
In related news, insider Robert M. Harrison sold 2,639 shares of Target Corporation 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.
TGT has been the subject of a number of research reports. BidaskClub cut Target Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. MKM Partners upped their price objective on Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Jefferies Group LLC reiterated a “hold” rating and set a $59.00 price objective on shares of Target Corporation in a research report on Tuesday, June 20th. Finally, Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 price objective for the company in a research report on Monday, August 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $61.64.
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Target Corporation (NYSE TGT) opened at 57.89 on Wednesday. The company has a market capitalization of $31.62 billion, a price-to-earnings ratio of 11.70 and a beta of 0.60. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The company’s 50-day moving average price is $56.25 and its 200-day moving average price is $54.99.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share 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 quarter in the previous year, the business earned $1.23 EPS. Target Corporation’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts forecast that Target Corporation will post $4.51 earnings per share for the current fiscal year.
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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