Target Corporation (TGT) Position Trimmed by Sentry Investment Management LLC
Sentry Investment Management LLC trimmed its holdings in shares of Target Corporation (NYSE:TGT) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,831 shares of the retailer’s stock after selling 77 shares during the period. Sentry Investment Management LLC’s holdings in Target Corporation were worth $2,292,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Boston Private Wealth LLC increased its holdings in Target Corporation by 4.5% during the 2nd quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock valued at $2,795,000 after purchasing an additional 2,285 shares in the last quarter. Conning Inc. increased its stake in shares of Target Corporation by 2.1% in the 2nd quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock valued at $27,323,000 after buying an additional 10,966 shares during the period. Patten & Patten Inc. TN acquired a new stake in shares of Target Corporation in the 2nd quarter valued at $234,000. Pitcairn Co. increased its stake in shares of Target Corporation by 92.7% in the 2nd quarter. Pitcairn Co. now owns 23,445 shares of the retailer’s stock valued at $1,226,000 after buying an additional 11,278 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Target Corporation by 516.5% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 87,730 shares of the retailer’s stock valued at $4,587,000 after buying an additional 73,499 shares during the period. 83.23% of the stock is owned by hedge funds and other institutional investors.
Shares of Target Corporation (TGT) traded up 0.81% during midday trading on Friday, hitting $60.92. The company had a trading volume of 761,806 shares. The company’s 50-day moving average price is $58.61 and its 200 day moving average price is $55.69. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 12.31 and a beta of 0.62.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. During the same period in the previous year, the business earned $1.23 EPS. Target Corporation’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s payout ratio is 50.00%.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.
Several research firms have recently commented on TGT. Stifel Nicolaus set a $60.00 target price on Target Corporation and gave the company a “hold” rating in a research note on Wednesday. MKM Partners began coverage on Target Corporation in a research note on Wednesday. They issued a “buy” rating and a $85.00 target price for the company. Zacks Investment Research raised Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, October 10th. TheStreet raised Target Corporation from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. Finally, BMO Capital Markets reissued a “market weight” rating on shares of Target Corporation in a research note on Thursday, September 14th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. Target Corporation has a consensus rating of “Hold” and an average price target of $63.75.
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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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