Hartland & Co. LLC raised its stake in shares of Target Corporation (NYSE:TGT) by 8.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 13,185 shares of the retailer’s stock after buying an additional 985 shares during the period. Hartland & Co. LLC’s holdings in Target Corporation were worth $728,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in Target Corporation during the fourth quarter valued at about $10,592,000. Wealthfront Inc. acquired a new position in Target Corporation during the fourth quarter valued at about $803,000. UBS Asset Management Americas Inc. boosted its position in Target Corporation by 1.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,347,272 shares of the retailer’s stock valued at $169,544,000 after buying an additional 32,369 shares during the last quarter. Perigon Wealth Management LLC boosted its position in Target Corporation by 20.0% in the fourth quarter. Perigon Wealth Management LLC now owns 19,036 shares of the retailer’s stock valued at $1,103,000 after buying an additional 3,171 shares during the last quarter. Finally, M Holdings Securities Inc. boosted its position in Target Corporation by 1.7% in the fourth quarter. M Holdings Securities Inc. now owns 5,804 shares of the retailer’s stock valued at $419,000 after buying an additional 98 shares during the last quarter. 82.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Target Corporation (NYSE TGT) opened at 55.65 on Friday. The stock’s 50 day moving average is $54.12 and its 200 day moving average is $56.47. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The company has a market cap of $30.70 billion, a P/E ratio of 11.40 and a beta of 0.61.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. The firm had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. Target Corporation’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 earnings per share. On average, analysts predict that Target Corporation will post $4.39 earnings per share for the current year.
The company also recently announced 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 is a boost from Target Corporation’s previous quarterly dividend of $0.60. 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. Target Corporation’s payout ratio is presently 48.98%.
Several equities analysts have recently weighed in on the company. BidaskClub cut Target Corporation from a “buy” rating to a “hold” rating in a report on Saturday. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 price target on the stock in a report on Monday. Cowen and Company reissued a “market perform” rating and set a $64.00 price target on shares of Target Corporation in a report on Friday, July 14th. BMO Capital Markets increased their price target on Target Corporation from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Friday, July 14th. Finally, Robert W. Baird restated a “neutral” rating and issued a $55.00 price objective on shares of Target Corporation in a research note on Friday, July 14th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.99.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is available through this hyperlink. 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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