Private Advisor Group LLC lifted its stake in shares of Target Co. (NYSE:TGT) by 16.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 28,302 shares of the retailer’s stock after acquiring an additional 3,937 shares during the period. Private Advisor Group LLC’s holdings in Target were worth $1,600,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bedell Frazier Investment Counseling LLC bought a new stake in Target in the third quarter worth $219,000. Parallel Advisors LLC lifted its stake in 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 last quarter. Jacobi Capital Management LLC lifted its stake 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 purchasing an additional 1,310 shares during the last quarter. Cable Hill Partners LLC lifted its stake in Target by 848.8% in the third quarter. Cable Hill Partners LLC now owns 2,666 shares of the retailer’s stock worth $157,000 after purchasing an additional 2,385 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its stake 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 purchasing an additional 445 shares during the last quarter. 87.41% of the stock is owned by institutional investors.
In related 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 transaction of $277,792.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by insiders.
Shares of Target Co. (TGT) traded down $1.48 during trading hours on Thursday, hitting $60.72. 5,562,200 shares of the stock traded hands, compared to its average volume of 7,432,677. The company has a market capitalization of $33,810.22, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 7.69 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. Target Co. has a 52-week low of $48.56 and a 52-week high of $78.42.
Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter in the previous year, the company earned $1.04 earnings per share. Target’s quarterly revenue was up 1.4% on a year-over-year basis. equities research analysts expect that Target Co. will post 4.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors 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 dividend yield of 4.08%. The ex-dividend date is Tuesday, November 14th. Target’s dividend payout ratio is currently 51.88%.
Several analysts have weighed in on TGT shares. Vetr downgraded shares of Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price target for the company. in a research note on Monday, November 20th. Zacks Investment Research downgraded shares of Target from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley lowered their price target on shares of Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, November 16th. Barclays set a $45.00 price target on shares of Target and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Finally, Wells Fargo & Company initiated coverage on shares of Target in a research note on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price target for the company. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. Target has an average rating of “Hold” and an average price target of $63.25.
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Target Company Profile
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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