Stockman Wealth Management Inc. raised its position in Target Corporation (NYSE:TGT) by 24.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,432 shares of the retailer’s stock after buying an additional 12,451 shares during the period. Target Corporation accounts for about 2.0% of Stockman Wealth Management Inc.’s holdings, making the stock its 14th largest position. Stockman Wealth Management Inc.’s holdings in Target Corporation were worth $3,446,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of TGT. OLD National Bancorp IN raised its stake in Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock valued at $3,440,000 after buying an additional 7,547 shares during the period. ING Groep NV raised its stake in Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock valued at $421,000 after buying an additional 4,071 shares during the period. Honeywell International Inc. raised its stake in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock worth $36,707,000 after buying an additional 205,700 shares during the last quarter. Cascade Investment Advisors Inc. raised its stake in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock worth $1,349,000 after buying an additional 4,685 shares during the last quarter. Finally, Prospera Financial Services Inc raised its stake in shares of Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock worth $442,000 after buying an additional 1,844 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.
Target Corporation (TGT) traded down 0.84% during midday trading on Friday, hitting $55.65. 4,738,485 shares of the stock were exchanged. The firm has a 50-day moving average price of $54.68 and a 200-day moving average price of $56.16. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The stock has a market cap of $30.40 billion, a P/E ratio of 11.24 and a beta of 0.61.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the 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 business had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. During the same period in the prior year, the business posted $1.23 earnings per share. Target Corporation’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Target Corporation will post $4.47 EPS for the current fiscal year.
The business 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 an increase from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio is currently 50.00%.
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A number of equities research analysts recently weighed in on TGT shares. Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday, June 6th. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price target for the company in a report on Wednesday, May 10th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Finally, MKM Partners boosted their price target on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $61.64.
In other news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.
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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