Gofen & Glossberg LLC IL decreased its holdings in Target Corporation (NYSE:TGT) by 37.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,827 shares of the retailer’s stock after selling 48,806 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Target Corporation were worth $4,331,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of TGT. 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 buying an additional 44,877,391 shares during the last quarter. 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 buying an additional 9,102,526 shares during the last quarter. Capital Research Global Investors acquired a new position in Target Corporation in the second quarter worth approximately $235,305,000. Franklin Resources Inc. grew its position in Target Corporation by 8.7% during the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after purchasing an additional 1,686,774 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Target Corporation by 14.2% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock worth $568,896,000 after purchasing an additional 1,279,077 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.
Several equities analysts have weighed in on TGT shares. Vetr cut shares of Target Corporation from a “strong-buy” rating to a “buy” rating and set a $58.97 price objective on the stock. in a research report on Friday, July 14th. Robert W. Baird reissued a “neutral” rating and set a $55.00 target price on shares of Target Corporation in a research note on Friday, July 14th. BMO Capital Markets lifted their target price on shares of Target Corporation from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Friday, July 14th. Cowen and Company reissued a “market perform” rating and set a $64.00 target price on shares of Target Corporation in a research note on Friday, July 14th. Finally, BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.75.
Shares of Target Corporation (TGT) traded down 2.82% during trading on Friday, hitting $60.26. 6,964,433 shares of the stock were exchanged. The firm has a market capitalization of $32.92 billion, a P/E ratio of 12.18 and a beta of 0.62. The firm has a 50 day moving average price of $59.23 and a 200 day moving average price of $55.96. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33.
Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the 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 business 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 company earned $1.23 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Analysts forecast that Target Corporation will post $4.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.12%. Target Corporation’s dividend payout ratio (DPR) is currently 50.00%.
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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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