TrueNorth Inc. lifted its position in Target Corporation (NYSE:TGT) by 51.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,950 shares of the retailer’s stock after purchasing an additional 6,797 shares during the quarter. TrueNorth Inc.’s holdings in Target Corporation were worth $1,177,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Target Corporation by 2,069.0% during the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares during the period. Dodge & Cox boosted its position in Target Corporation by 83.3% during the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after buying an additional 9,102,526 shares during the period. Capital Research Global Investors purchased a new stake in Target Corporation during the second quarter valued at about $235,305,000. Franklin Resources Inc. boosted its position in Target Corporation by 8.7% during the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after buying an additional 1,686,774 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Target Corporation by 14.2% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock valued at $568,896,000 after buying an additional 1,279,077 shares during the period. 83.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Target Corporation (NYSE TGT) opened at $61.40 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a market cap of $32,719.29, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63. Target Corporation has a fifty-two week low of $48.56 and a fifty-two week high of $79.33.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. Target Corporation’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. equities research analysts predict that Target Corporation will post 4.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.04%. Target Corporation’s dividend payout ratio is currently 50.00%.
A number of analysts have recently weighed in on the stock. Vetr downgraded shares of Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.28 price target for the company. in a research note on Thursday, July 20th. Stifel Nicolaus reissued a “hold” rating and issued a $60.00 price target (up from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. BMO Capital Markets reissued a “market perform” rating and issued a $67.00 price target (up from $62.00) on shares of Target Corporation in a research note on Friday, August 18th. Zacks Investment Research downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Finally, BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have given a buy rating to the company. Target Corporation has an average rating of “Hold” and a consensus price target of $63.68.
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 value of $277,792.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.
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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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