Target Corporation (TGT) Holdings Cut by Richard C. Young & CO. LTD.
Richard C. Young & CO. LTD. trimmed its holdings in shares of Target Corporation (NYSE:TGT) by 0.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,719 shares of the retailer’s stock after selling 924 shares during the period. Richard C. Young & CO. LTD.’s holdings in Target Corporation were worth $6,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of Target Corporation by 23.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after acquiring an additional 399 shares during the last quarter. Penserra Capital Management LLC lifted its stake in Target Corporation by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after purchasing an additional 204 shares during the last quarter. Davidson Investment Advisors boosted its holdings in Target Corporation by 18.5% in the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after purchasing an additional 400 shares in the last quarter. Kistler Tiffany Companies LLC boosted its holdings in Target Corporation by 19.1% in the second 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 in the last quarter. Finally, Washington Trust Bank boosted its holdings in Target Corporation by 105.6% in the second 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 in the last quarter. 83.22% of the stock is owned by institutional investors.
Target Corporation (NYSE TGT) opened at 59.01 on Monday. The stock has a 50 day moving average of $56.82 and a 200-day moving average of $55.00. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The firm has a market cap of $32.23 billion, a price-to-earnings ratio of 11.92 and a beta of 0.62.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion for 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 quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 EPS. On average, analysts expect that Target Corporation will post $4.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.20%. Target Corporation’s dividend payout ratio is currently 50.00%.
In other news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
A number of research firms recently commented on TGT. UBS AG reaffirmed a “neutral” rating and issued a $56.00 target price (down from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. Vetr downgraded shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.66 price objective for the company. in a research note on Monday, June 12th. BMO Capital Markets reiterated a “market perform” rating and set a $67.00 target price (up previously from $62.00) on shares of Target Corporation in a research report on Friday, August 18th. 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 report on Friday, August 18th. Finally, Citigroup Inc. downgraded Target Corporation from a “buy” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $56.00 in a research note on Wednesday, June 21st. 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 stock currently has an average rating of “Hold” and a consensus target price of $61.64.
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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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