Clear Harbor Asset Management LLC acquired a new position in shares of Target Corporation (NYSE:TGT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,000 shares of the retailer’s stock, valued at approximately $2,360,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TrueNorth Inc. lifted its position in shares of Target Corporation by 51.7% during the 3rd quarter. TrueNorth Inc. now owns 19,950 shares of the retailer’s stock worth $1,177,000 after buying an additional 6,797 shares in the last quarter. Steinberg Global Asset Management increased its stake in shares of Target Corporation by 1.9% during the 3rd quarter. Steinberg Global Asset Management now owns 61,108 shares of the retailer’s stock worth $3,606,000 after purchasing an additional 1,152 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Target Corporation by 12.5% during the 3rd quarter. Raymond James Trust N.A. now owns 103,017 shares of the retailer’s stock worth $6,079,000 after purchasing an additional 11,483 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Target Corporation by 7.6% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 28,826 shares of the retailer’s stock worth $1,701,000 after purchasing an additional 2,045 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Target Corporation during the 3rd quarter worth approximately $354,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on TGT shares. Zacks Investment Research cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. MKM Partners began coverage on shares of Target Corporation in a research note on Wednesday, October 18th. They issued a “buy” rating and a $85.00 target price on the stock. Stifel Nicolaus set a $60.00 price objective on shares of Target Corporation and gave the company a “hold” rating in a research report on Wednesday, October 18th. Wells Fargo & Company began coverage on shares of Target Corporation in a research report on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price target on the stock. Finally, BMO Capital Markets reissued a “market weight” rating on shares of Target Corporation in a research note on Thursday, September 14th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Target Corporation has an average rating of “Hold” and an average price target of $63.68.
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In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.
Target Corporation (NYSE TGT) opened at $61.40 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.26. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The firm has a market capitalization of $32,719.29, a PE ratio of 12.15, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The company had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same period last year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. sell-side analysts anticipate that Target Corporation will post 4.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend 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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