Evercore Wealth Management LLC Reduces Position in Target Corporation (TGT)
Evercore Wealth Management LLC decreased its holdings in Target Corporation (NYSE:TGT) by 12.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,311 shares of the retailer’s stock after selling 2,525 shares during the quarter. Evercore Wealth Management LLC’s holdings in Target Corporation were worth $957,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Boston Private Wealth LLC raised its position in shares of Target Corporation by 4.5% during the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock valued at $2,795,000 after buying an additional 2,285 shares during the last quarter. Conning Inc. increased its position in Target Corporation by 2.1% in the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock worth $27,323,000 after purchasing an additional 10,966 shares during the last quarter. Patten & Patten Inc. TN bought a new stake in Target Corporation in the second quarter worth $234,000. Pitcairn Co. increased its position in Target Corporation by 92.7% in the second quarter. Pitcairn Co. now owns 23,445 shares of the retailer’s stock worth $1,226,000 after purchasing an additional 11,278 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Target Corporation by 41.7% in the second quarter. First Trust Advisors LP now owns 1,140,258 shares of the retailer’s stock worth $59,624,000 after purchasing an additional 335,831 shares during the last quarter. 83.23% of the stock is currently owned by institutional investors.
Several research firms have commented on TGT. TheStreet raised shares of Target Corporation from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. BMO Capital Markets reissued a “market weight” rating on shares of Target Corporation in a research note on Thursday, September 14th. Jefferies Group LLC reissued a “hold” rating on shares of Target Corporation in a research note on Friday, August 25th. Zacks Investment Research lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $60.00 price objective (up from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $63.08.
Shares of Target Corporation (TGT) opened at 57.12 on Monday. The stock has a 50 day moving average price of $57.55 and a 200 day moving average price of $55.34. 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 $31.20 billion, a P/E ratio of 11.54 and a beta of 0.62.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping 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%. Target Corporation’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. On average, analysts anticipate that Target Corporation will post $4.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.34%. Target Corporation’s dividend payout ratio (DPR) is currently 50.00%.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.
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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