AE Wealth Management LLC lowered its position in Target Co. (NYSE:TGT) by 24.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,849 shares of the retailer’s stock after selling 1,876 shares during the quarter. AE Wealth Management LLC’s holdings in Target were worth $345,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in TGT. Parallel Advisors LLC increased its holdings in shares of Target by 23.8% in the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after purchasing an additional 399 shares during the period. Davidson Investment Advisors grew its position in Target by 18.5% in the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after acquiring an additional 400 shares in the last quarter. Jacobi Capital Management LLC grew its position in Target by 109.8% in the third quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock worth $141,000 after acquiring an additional 1,310 shares in the last quarter. Kistler Tiffany Companies LLC grew its position in Target by 19.1% in the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after acquiring an additional 445 shares in the last quarter. Finally, Sandy Spring Bank grew its position in Target by 6.7% in the second quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock worth $155,000 after acquiring an additional 185 shares in the last quarter. 87.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Target Co. (TGT) traded up $0.37 during mid-day trading on Thursday, reaching $61.09. 3,964,810 shares of the company traded hands, compared to its average volume of 7,417,983. Target Co. has a 52 week low of $48.56 and a 52 week high of $78.42. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $33,100.00, a PE ratio of 12.96, a P/E/G ratio of 7.69 and a beta of 0.64.
Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $1.04 earnings per share. analysts predict that Target Co. will post 4.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Tuesday, November 14th. Target’s dividend payout ratio is presently 52.10%.
Several research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $60.00 target price (up from $58.00) on shares of Target in a research report on Friday, August 18th. BMO Capital Markets restated a “market perform” rating and set a $67.00 price target (up from $62.00) on shares of Target in a research report on Friday, August 18th. Vetr lowered shares of Target from a “buy” rating to a “hold” rating and set a $57.89 price target for the company. in a research report on Thursday, August 17th. Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Finally, Gordon Haskett upgraded shares of Target from a “sell” rating to a “hold” rating and upped their price target for the company from $47.00 to $58.00 in a research report on Wednesday, August 16th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $63.25.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.
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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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