Cape Cod Five Cents Savings Bank cut its stake in shares of Target Corporation (NYSE:TGT) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,425 shares of the retailer’s stock after selling 310 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Target Corporation were worth $754,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of TGT. BlackRock Inc. raised its position in shares of Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares during the last quarter. Dodge & Cox acquired a new position in shares of Target Corporation during the fourth quarter valued at about $788,237,000. Norges Bank acquired a new position in shares of Target Corporation during the fourth quarter valued at about $460,220,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock valued at $568,896,000 after buying an additional 1,279,077 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock valued at $527,380,000 after buying an additional 996,689 shares during the last quarter. Institutional investors own 82.63% of the company’s stock.
Shares of Target Corporation (TGT) traded up 0.02% during mid-day trading on Friday, reaching $55.65. The company had a trading volume of 6,022,770 shares. The firm has a 50-day moving average of $54.12 and a 200-day moving average of $56.47. The company has a market capitalization of $30.70 billion, a P/E ratio of 11.40 and a beta of 0.61. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The business had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same period last year, the business posted $1.29 earnings per share. Target Corporation’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Target Corporation will post $4.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.46%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio (DPR) is presently 48.98%.
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A number of equities research analysts recently weighed in on TGT shares. ValuEngine lowered Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a “hold” rating and set a $59.00 price objective (up previously from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective on the stock in a research report on Wednesday, May 10th. Zacks Investment Research upgraded Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, BidaskClub upgraded Target Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $61.99.
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 transaction of $137,359.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently 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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