Citizens Financial Group Inc. RI trimmed its position in shares of Target Co. (NYSE:TGT) by 25.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,576 shares of the retailer’s stock after selling 1,200 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Target were worth $211,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in Target by 1.5% in the 2nd quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock valued at $2,716,176,000 after acquiring an additional 775,265 shares in the last quarter. Vanguard Group Inc. lifted its position in Target by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock valued at $1,942,803,000 after acquiring an additional 130,252 shares in the last quarter. Franklin Resources Inc. lifted its position in Target by 8.7% in the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after acquiring an additional 1,686,774 shares in the last quarter. Dodge & Cox lifted its position in Target by 83.3% in the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after acquiring an additional 9,102,526 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Target by 7.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 9,738,657 shares of the retailer’s stock valued at $574,680,000 after acquiring an additional 682,253 shares in the last quarter. 87.41% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on TGT shares. Zacks Investment Research cut shares of Target from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Morgan Stanley cut their price objective on shares of Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, November 16th. Vetr cut shares of Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price objective on the stock. in a research report on Monday, November 20th. Barclays set a $45.00 price objective on shares of Target and gave the company a “sell” rating in a research report on Wednesday, November 15th. Finally, Wells Fargo & Company started coverage on shares of Target in a research report on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Target presently has an average rating of “Hold” and an average price target of $63.25.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.
Shares of Target Co. (NYSE TGT) traded down $0.36 during trading hours on Wednesday, reaching $62.20. 8,184,200 shares of the company’s stock traded hands, compared to its average volume of 7,440,670. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. Target Co. has a 52-week low of $48.56 and a 52-week high of $78.42. The company has a market cap of $34,014.06, a PE ratio of 13.04, a PEG ratio of 7.74 and a beta of 0.64.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. Target’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 EPS. research analysts expect that Target Co. will post 4.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.99%. Target’s dividend payout ratio is presently 51.88%.
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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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