Stonebridge Capital Advisors LLC grew its position in shares of Target Corporation (NYSE:TGT) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,529 shares of the retailer’s stock after purchasing an additional 1,744 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Target Corporation were worth $1,963,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in shares of Target Corporation by 1.5% during the second quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock valued at $2,716,176,000 after purchasing an additional 775,265 shares in the last quarter. BlackRock Inc. grew its position in Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after acquiring an additional 44,877,391 shares in the last quarter. Vanguard Group Inc. grew its position in Target Corporation by 0.4% in the second quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock worth $1,942,803,000 after acquiring an additional 130,252 shares in the last quarter. Franklin Resources Inc. grew its position in Target Corporation by 8.7% in the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after acquiring an additional 1,686,774 shares in the last quarter. Finally, Dodge & Cox grew its position in Target Corporation by 83.3% in the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after acquiring an additional 9,102,526 shares in the last quarter. Hedge funds and other institutional investors own 83.23% of the company’s stock.
Several research firms recently commented on TGT. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price target for the company in a research report on Monday, June 19th. BidaskClub upgraded Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a research report on Friday, July 14th. MKM Partners lifted their price target on Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Cowen and Company reiterated a “market perform” rating and issued a $64.00 price target on shares of Target Corporation in a research report on Friday, July 14th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. Target Corporation currently has a consensus rating of “Hold” and an average target price of $63.08.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.
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Shares of Target Corporation (TGT) opened at 60.85 on Monday. The stock has a market capitalization of $33.24 billion, a price-to-earnings ratio of 12.30 and a beta of 0.62. The stock’s 50 day moving average is $58.05 and its 200-day moving average is $55.55. Target Corporation has a one year low of $48.56 and a one year high of $79.33.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same period last year, the firm posted $1.23 EPS. Target Corporation’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Target Corporation will post $4.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s payout ratio is currently 50.00%.
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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