Patten & Patten Inc. TN bought 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 institutional investor bought 4,475 shares of the retailer’s stock, valued at approximately $234,000.
A number of other large investors also recently made changes to their positions in the stock. Rehmann Capital Advisory Group raised its stake in shares of Target Corporation by 3.7% in the second quarter. Rehmann Capital Advisory Group now owns 10,644 shares of the retailer’s stock valued at $557,000 after buying an additional 377 shares during the last quarter. First Quadrant L P CA raised its stake in shares of Target Corporation by 20,298.8% in the second quarter. First Quadrant L P CA now owns 341,680 shares of the retailer’s stock valued at $17,866,000 after buying an additional 340,005 shares during the last quarter. Aperio Group LLC raised its stake in shares of Target Corporation by 7.1% in the second quarter. Aperio Group LLC now owns 285,324 shares of the retailer’s stock valued at $14,920,000 after buying an additional 18,949 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of Target Corporation by 134.4% in the second quarter. North Star Investment Management Corp. now owns 38,164 shares of the retailer’s stock valued at $1,996,000 after buying an additional 21,879 shares during the last quarter. Finally, Jolley Asset Management LLC raised its stake in shares of Target Corporation by 2.2% in the second quarter. Jolley Asset Management LLC now owns 3,455 shares of the retailer’s stock valued at $181,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.
Target Corporation (NYSE TGT) traded down 0.84% during mid-day trading on Friday, hitting $55.65. 4,738,485 shares of the stock were exchanged. The stock has a 50 day moving average of $54.68 and a 200-day moving average of $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 52-week low of $48.56 and a 52-week high of $79.33.
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 the consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. Equities analysts predict 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. Shareholders of record on Wednesday, August 16th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.46%. The ex-dividend date is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is 50.00%.
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Several equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $60.00 target price (up from $58.00) on shares of Target Corporation in a research report on Friday. BMO Capital Markets set a $67.00 target price on shares of Target Corporation and gave the company a “hold” rating in a research report on Friday. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $57.89 target price for the company. in a research report on Thursday. MKM Partners boosted their price objective on shares of Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Gordon Haskett upgraded shares of Target Corporation from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $47.00 to $58.00 in a report on Wednesday. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $61.64.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of Target Corporation 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is owned by 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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