Zions Bancorporation lowered its holdings in Target Co. (NYSE:TGT) by 44.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,831 shares of the retailer’s stock after selling 5,557 shares during the period. Zions Bancorporation’s holdings in Target were worth $403,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Cahill Financial Advisors Inc. purchased a new position in shares of Target in the third quarter valued at $228,000. Janus Henderson Group PLC boosted its stake in shares of Target by 19.1% in the third quarter. Janus Henderson Group PLC now owns 269,458 shares of the retailer’s stock valued at $15,898,000 after purchasing an additional 43,151 shares during the period. Caxton Associates LP boosted its stake in shares of Target by 103.7% in the third quarter. Caxton Associates LP now owns 7,100 shares of the retailer’s stock valued at $419,000 after purchasing an additional 199,100 shares during the period. Vident Investment Advisory LLC purchased a new position in shares of Target in the third quarter valued at $1,309,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in Target by 15.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,020 shares of the retailer’s stock valued at $591,000 after acquiring an additional 1,328 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.
Target Co. (NYSE TGT) traded up $0.28 during trading on Monday, hitting $61.37. 3,666,400 shares of the stock were exchanged, compared to its average volume of 7,402,155. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. Target Co. has a one year low of $48.56 and a one year high of $78.37. The company has a market cap of $33,350.90, a P/E ratio of 12.78, a P/E/G ratio of 7.58 and a beta of 0.64.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ 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 the consensus estimate of $16.61 billion. During the same period last year, the firm posted $1.04 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. equities analysts expect that Target Co. will post 4.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Wednesday, November 15th were issued a $0.62 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.04%. Target’s dividend payout ratio (DPR) is presently 51.88%.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the 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 legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.
A number of research analysts have commented on TGT shares. TheStreet upgraded shares of Target from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, October 10th. MKM Partners increased their price objective on shares of Target from $58.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Vetr upgraded shares of Target from a “hold” rating to a “buy” rating and set a $59.67 price objective on the stock in a research note on Monday, August 14th. Finally, BMO Capital Markets reiterated a “market weight” rating on shares of Target in a research note on Thursday, September 14th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $63.25.
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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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