Target Corporation (TGT) Position Boosted by FTB Advisors Inc.
FTB Advisors Inc. boosted its holdings in Target Corporation (NYSE:TGT) by 14.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,082 shares of the retailer’s stock after buying an additional 13,801 shares during the quarter. FTB Advisors Inc.’s holdings in Target Corporation were worth $6,022,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of TGT. Boston Private Wealth LLC boosted its stake in Target Corporation by 4.5% in the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock valued at $2,795,000 after acquiring an additional 2,285 shares in the last quarter. Conning Inc. boosted its stake in Target Corporation by 2.1% in the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock valued at $27,323,000 after acquiring an additional 10,966 shares in the last quarter. Patten & Patten Inc. TN acquired a new position in Target Corporation in the second quarter valued at $234,000. Pitcairn Co. boosted its stake in Target Corporation by 92.7% in the second quarter. Pitcairn Co. now owns 23,445 shares of the retailer’s stock valued at $1,226,000 after acquiring an additional 11,278 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Target Corporation by 516.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 87,730 shares of the retailer’s stock valued at $4,587,000 after acquiring an additional 73,499 shares in the last quarter. 83.23% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.
Target Corporation (NYSE:TGT) opened at 60.19 on Friday. The stock has a market capitalization of $32.88 billion, a PE ratio of 12.16 and a beta of 0.62. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The firm has a 50-day moving average of $57.78 and a 200-day moving average of $55.48.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 EPS. On average, equities research analysts forecast that Target Corporation will post $4.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio is currently 50.00%.
TGT has been the subject of several research analyst reports. TheStreet upgraded shares of Target Corporation from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. Vetr downgraded shares of Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.28 price objective for the company. in a research note on Thursday, July 20th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. MKM Partners upped their price objective on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $63.08.
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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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