Virginia Retirement Systems ET AL acquired a new stake in shares of Target Co. (NYSE:TGT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 168,800 shares of the retailer’s stock, valued at approximately $9,961,000.
Several other large investors have also recently modified their holdings of the company. Carnick & Kubik Group LLC bought a new position in Target in the third quarter worth about $554,000. CAPROCK Group Inc. bought a new position in Target in the third quarter worth about $832,000. Boston Private Wealth LLC raised its stake in Target by 4.5% in the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock worth $2,795,000 after buying an additional 2,285 shares in the last quarter. Conning Inc. raised its stake in Target by 2.1% in the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock worth $27,323,000 after buying an additional 10,966 shares in the last quarter. Finally, SignalPoint Asset Management LLC bought a new position in Target in the third quarter worth about $258,000. 87.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Target Co. (TGT) opened at $61.94 on Friday. Target Co. has a fifty-two week low of $48.56 and a fifty-two week high of $78.37. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. The company has a market cap of $33,163.37, a P/E ratio of 12.71, a PEG ratio of 7.54 and a beta of 0.64.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating 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 firm had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts forecast that Target Co. will post 4.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Tuesday, November 14th. Target’s payout ratio is 51.88%.
TGT has been the subject of a number of research reports. 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 decreased 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 set a “market perform” rating and a $62.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. Target presently has an average rating of “Hold” and an average price target of $62.42.
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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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