Target Corporation (TGT) Shares Bought by Bank of Nova Scotia
Bank of Nova Scotia increased its holdings in shares of Target Corporation (NYSE:TGT) by 950.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 125,132 shares of the retailer’s stock after purchasing an additional 113,220 shares during the quarter. Bank of Nova Scotia’s holdings in Target Corporation were worth $6,544,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fiera Capital Corp increased its position in Target Corporation by 0.4% during the 2nd quarter. Fiera Capital Corp now owns 4,888 shares of the retailer’s stock worth $256,000 after purchasing an additional 19 shares in the last quarter. Compton Capital Management Inc. RI increased its position in Target Corporation by 0.4% during the 1st quarter. Compton Capital Management Inc. RI now owns 8,824 shares of the retailer’s stock worth $487,000 after purchasing an additional 32 shares in the last quarter. Gamble Jones Investment Counsel increased its position in Target Corporation by 0.4% during the 2nd quarter. Gamble Jones Investment Counsel now owns 10,570 shares of the retailer’s stock worth $553,000 after purchasing an additional 44 shares in the last quarter. Carlson Capital Management increased its position in Target Corporation by 0.9% during the 2nd quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock worth $421,000 after purchasing an additional 69 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV increased its position in Target Corporation by 0.8% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 9,847 shares of the retailer’s stock worth $515,000 after purchasing an additional 74 shares in the last quarter. 83.23% of the stock is owned by hedge funds and other institutional investors.
TGT has been the subject of a number of research analyst reports. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price for the company in a research report on Monday, June 19th. UBS AG reissued a “neutral” rating and set a $56.00 target price (down previously from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. Jefferies Group LLC reissued a “hold” rating and set a $59.00 target price on shares of Target Corporation in a research report on Tuesday, June 20th. BidaskClub downgraded shares of Target Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Citigroup Inc. downgraded shares of Target Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $51.00 to $56.00 in a research report on Wednesday, June 21st. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the stock. Target Corporation presently has a consensus rating of “Hold” and a consensus target price of $63.08.
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Target Corporation (NYSE:TGT) opened at 60.85 on Monday. The company has a market capitalization of $33.24 billion, a PE ratio of 12.30 and a beta of 0.62. 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 $58.05 and its 200 day moving average price is $55.55.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping 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 company had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter last year, the firm earned $1.23 EPS. Target Corporation’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Target Corporation will post $4.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s payout ratio is presently 50.00%.
In other news, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.
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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