Brookstone Capital Management bought a new stake in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 84,437 shares of the retailer’s stock, valued at approximately $5,510,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Carnick & Kubik Group LLC bought a new stake in Target during the 3rd quarter valued at $554,000. CAPROCK Group Inc. bought a new position in shares of Target in the 3rd quarter worth $832,000. SignalPoint Asset Management LLC bought a new position in shares of Target in the 3rd quarter worth $258,000. Pacer Advisors Inc. raised its position in shares of Target by 6.9% in the 3rd quarter. Pacer Advisors Inc. now owns 37,779 shares of the retailer’s stock worth $2,229,000 after acquiring an additional 2,422 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Target by 15.5% in the 3rd quarter. Principal Financial Group Inc. now owns 925,877 shares of the retailer’s stock worth $54,636,000 after acquiring an additional 124,409 shares in the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.
Shares of Target Co. (NYSE:TGT) opened at $73.88 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. The firm has a market capitalization of $40,160.00, a PE ratio of 15.52, a price-to-earnings-growth ratio of 3.42 and a beta of 0.75. Target Co. has a one year low of $48.56 and a one year high of $78.70.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The business had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 EPS. equities research analysts forecast that Target Co. will post 4.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 annualized dividend and a yield of 3.36%. Target’s payout ratio is presently 52.10%.
Several research analysts have recently commented on the company. ValuEngine raised Target from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered Target from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Telsey Advisory Group reduced their price target on Target from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, November 16th. Barclays set a $45.00 price target on Target and gave the stock a “sell” rating in a research report on Wednesday, November 15th. Finally, Vetr lowered Target from a “strong-buy” rating to a “buy” rating and set a $66.10 price target for the company. in a research report on Wednesday, November 29th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $67.64.
In other Target news, Director Roxanne S. Austin sold 4,705 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total value of $234,240.00. Following the sale, the insider now owns 16,906 shares in the company, valued at approximately $1,320,020.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,262 shares of company stock worth $1,185,484. Company insiders own 0.20% 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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