Chevy Chase Trust Holdings Inc. reduced its stake in Target Co. (NYSE:TGT) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 618,045 shares of the retailer’s stock after selling 30,034 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.11% of Target worth $40,331,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fiduciary Trust Co. grew its stake in shares of Target by 1.1% during the 2nd quarter. Fiduciary Trust Co. now owns 17,964 shares of the retailer’s stock worth $939,000 after acquiring an additional 197 shares during the period. LSV Asset Management grew its stake in shares of Target by 3.0% during the 2nd quarter. LSV Asset Management now owns 5,899,360 shares of the retailer’s stock worth $308,477,000 after acquiring an additional 172,025 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in shares of Target by 12.1% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 9,007 shares of the retailer’s stock worth $471,000 after acquiring an additional 974 shares during the period. IFM Investors Pty Ltd bought a new position in shares of Target during the 2nd quarter worth $760,000. Finally, Old Mutual Global Investors UK Ltd. grew its stake in shares of Target by 217.7% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 25,415 shares of the retailer’s stock worth $1,328,000 after acquiring an additional 17,415 shares during the period. 87.85% of the stock is owned by institutional investors and hedge funds.
Shares of Target Co. (NYSE TGT) traded up $1.47 during midday trading on Wednesday, hitting $75.35. The company had a trading volume of 7,331,469 shares, compared to its average volume of 7,650,000. The stock has a market cap of $40,960.00, a PE ratio of 15.83, a price-to-earnings-growth ratio of 3.40 and a beta of 0.75. 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 $78.70.
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 consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The business had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. During the same period last year, the company earned $1.04 EPS. Target’s revenue for the quarter was up 1.4% compared to the same quarter last year. sell-side analysts anticipate that Target Co. will post 4.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be given 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 3.29%. Target’s payout ratio is 52.10%.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the sale, the insider now directly owns 16,906 shares in the company, valued at approximately $1,320,020.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,262 shares of company stock worth $1,185,484. 0.20% of the stock is owned by corporate insiders.
TGT has been the subject of several research reports. Zacks Investment Research upgraded Target from a “hold” rating to a “strong-buy” rating and set a $88.00 price target for the company in a research note on Saturday, January 20th. Robert W. Baird reissued a “hold” rating and set a $70.00 price objective on shares of Target in a report on Wednesday, January 3rd. MKM Partners set a $77.00 price objective on Target and gave the stock a “buy” rating in a report on Thursday, December 14th. Morgan Stanley dropped their price objective on Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Thursday, November 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price objective (up previously from $65.00) on shares of Target in a report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $67.64.
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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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