Vanguard Group Inc. decreased its position in Target Corporation (NYSE:TGT) by 8.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,024,144 shares of the retailer’s stock after selling 3,575,028 shares during the period. Vanguard Group Inc. owned approximately 6.70% of Target Corporation worth $2,043,362,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of TGT. Cribstone Capital Management LLC boosted its stake 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 during the last quarter. Reilly Financial Advisors LLC boosted its stake 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 during the last quarter. Pinnacle Bank acquired a new stake in Target Corporation during the first quarter worth about $123,000. Peoples Financial Services CORP. boosted its stake 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 during the last quarter. Finally, Penserra Capital Management LLC boosted its stake 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 during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.
Target Corporation (NYSE:TGT) traded down 0.84% during midday trading on Friday, hitting $55.65. The stock had a trading volume of 4,738,485 shares. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The company has a 50-day moving average price of $54.68 and a 200-day moving average price of $56.16. 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 issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that Target Corporation will post $4.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is currently 50.00%.
A number of analysts recently issued reports on the company. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price for the company in a research note on Monday, June 19th. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Finally, MKM Partners raised their price target on shares of Target Corporation to $69.00 and gave the stock a “buy” rating in a research note on Thursday. 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’s stock. The company presently has an average rating of “Hold” and a consensus 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 legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate 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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