Richard C. Young & CO. LTD. cut its stake in Target Co. (NYSE:TGT) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,803 shares of the retailer’s stock after selling 916 shares during the period. Richard C. Young & CO. LTD.’s holdings in Target were worth $7,837,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Schroder Investment Management Group lifted its position in Target by 41.4% during the 3rd quarter. Schroder Investment Management Group now owns 1,056,246 shares of the retailer’s stock worth $62,223,000 after buying an additional 309,039 shares in the last quarter. American Trust Investment Advisors LLC bought a new stake in Target during the 3rd quarter worth about $1,068,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Target by 8.4% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,419 shares of the retailer’s stock worth $2,621,000 after buying an additional 3,431 shares in the last quarter. Achmea Investment Management B.V. lifted its position in Target by 2.2% during the 3rd quarter. Achmea Investment Management B.V. now owns 98,947 shares of the retailer’s stock worth $5,835,000 after buying an additional 2,135 shares in the last quarter. Finally, Pegasus Partners Ltd. bought a new stake in Target during the 3rd quarter worth about $964,000. 83.60% of the stock is owned by hedge funds and other institutional investors.
Target Co. (NYSE:TGT) traded down $1.61 during trading on Monday, reaching $55.88. 5,892,300 shares of the company’s stock traded hands, compared to its average volume of 7,334,003. The company has a market cap of $30,374.86, a PE ratio of 11.64, a P/E/G ratio of 6.91 and a beta of 0.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. Target Co. has a 52-week low of $48.56 and a 52-week high of $79.33.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. equities analysts forecast that Target Co. will post 4.54 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.44%. Target’s dividend payout ratio is currently 51.88%.
Several brokerages have commented on TGT. BidaskClub raised shares of Target from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Barclays PLC set a $45.00 price target on shares of Target and gave the stock a “sell” rating in a research report on Wednesday, November 15th. Stifel Nicolaus cut their price target on shares of Target from $65.00 to $62.00 and set a “hold” rating on the stock in a research report on Thursday, November 16th. Vetr cut shares of Target from a “buy” rating to a “hold” rating and set a $57.89 price target on the stock. in a research report on Thursday, August 17th. Finally, MKM Partners upped their target price on shares of Target from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Target currently has a consensus rating of “Hold” and a consensus target price of $63.15.
In other Target news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by corporate insiders.
Target 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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