Tufton Capital Management lessened its position in shares of Target Co. (NYSE:TGT) by 2.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,035 shares of the retailer’s stock after selling 2,995 shares during the period. Target accounts for 2.7% of Tufton Capital Management’s holdings, making the stock its 5th biggest holding. Tufton Capital Management’s holdings in Target were worth $12,907,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TGT. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Target by 62.2% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Advisory Alpha LLC purchased a new stake in shares of Target during the first quarter valued at $30,000. Icon Wealth Partners LLC purchased a new stake in shares of Target during the first quarter valued at $31,000. Larson Financial Group LLC bought a new stake in shares of Target in the second quarter valued at about $31,000. Finally, C J Advisory Inc bought a new stake in shares of Target in the first quarter valued at about $33,000. 83.15% of the stock is owned by institutional investors and hedge funds.
Shares of TGT traded up $0.03 during midday trading on Wednesday, reaching $82.80. The company had a trading volume of 2,686,243 shares, compared to its average volume of 4,291,804. Target Co. has a 1-year low of $60.15 and a 1-year high of $90.39. The company has a market capitalization of $41.77 billion, a PE ratio of 15.36, a PEG ratio of 1.95 and a beta of 0.61. The business has a 50 day simple moving average of $86.74. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88.
Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.10. Target had a return on equity of 26.48% and a net margin of 3.96%. The business had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period last year, the company earned $1.32 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Target Co. will post 5.92 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.19%. This is a boost from Target’s previous quarterly dividend of $0.64. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio (DPR) is 47.50%.
In other news, insider Janna A. Potts sold 8,759 shares of Target stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total value of $691,961.00. Following the completion of the transaction, the insider now owns 27,720 shares in the company, valued at approximately $2,189,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roxanne S. Austin sold 4,163 shares of Target stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $89.00, for a total value of $370,507.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,180 shares of company stock valued at $2,854,650 over the last 90 days. 0.24% of the stock is currently owned by company insiders.
TGT has been the subject of several recent research reports. Bank of America set a $105.00 price objective on Target and gave the company a “buy” rating in a report on Thursday, May 23rd. Citigroup increased their price objective on Target from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein reissued a “mkt perform” rating on shares of Target in a research note on Friday, May 3rd. Credit Suisse Group set a $90.00 price objective on Target and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $92.00 price objective (up from $88.00) on shares of Target in a research note on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Target has an average rating of “Buy” and a consensus target price of $90.52.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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