Gilman Hill Asset Management LLC acquired a new stake in shares of Target Corporation (NYSE:TGT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 80,443 shares of the retailer’s stock, valued at approximately $4,206,000. Target Corporation comprises 1.8% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 21st largest position.
Several other large investors have also added to or reduced their stakes in the stock. Cribstone Capital Management LLC raised its position in Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares in the last quarter. Reilly Financial Advisors LLC raised its position in Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares in the last quarter. Pinnacle Bank purchased a new position in Target Corporation during the first quarter worth $123,000. Peoples Financial Services CORP. raised its position in Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.
Shares of Target Corporation (NYSE TGT) traded down 0.84% on Friday, hitting $55.65. 4,738,485 shares of the stock were exchanged. The stock’s 50-day moving average is $54.68 and its 200-day moving average is $56.16. The stock has a market cap of $30.40 billion, a price-to-earnings ratio of 11.24 and a beta of 0.61. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. Target Corporation’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 EPS. Analysts forecast that Target Corporation will post $4.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given a $0.62 dividend. 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. This represents a $2.48 dividend on an annualized basis and a yield of 4.46%. Target Corporation’s payout ratio is 50.00%.
A number of analysts recently weighed in on the stock. BidaskClub cut shares of Target Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Gordon Haskett assumed coverage on shares of Target Corporation in a research note on Tuesday, May 9th. They set a “sell” rating and a $47.00 price objective on the stock. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective on the stock in a research note on Wednesday, May 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 price objective on shares of Target Corporation in a research note on Tuesday, June 20th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.56.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by 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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