Pinnacle Financial Partners Inc. trimmed its holdings in Target Co. (NYSE:TGT) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,609 shares of the retailer’s stock after selling 2,384 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Target were worth $1,149,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in TGT. American Century Companies Inc. increased its holdings in shares of Target by 45.1% in the 3rd quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after acquiring an additional 1,629,222 shares during the period. Miller Howard Investments Inc. NY acquired a new position in shares of Target in the 3rd quarter valued at $65,948,000. Dimensional Fund Advisors LP increased its holdings in shares of Target by 49.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,186,874 shares of the retailer’s stock valued at $188,052,000 after acquiring an additional 1,058,000 shares during the period. Hamlin Capital Management LLC acquired a new position in shares of Target in the 4th quarter valued at $60,860,000. Finally, Alps Advisors Inc. increased its holdings in shares of Target by 6,085.9% in the 4th quarter. Alps Advisors Inc. now owns 794,583 shares of the retailer’s stock valued at $51,847,000 after acquiring an additional 781,738 shares during the period. 87.85% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on TGT. Robert W. Baird raised shares of Target from a “neutral” rating to an “outperform” rating in a report on Wednesday. Vetr raised shares of Target from a “sell” rating to a “hold” rating and set a $72.52 target price on the stock in a report on Monday, February 5th. Cowen set a $80.00 target price on shares of Target and gave the company a “hold” rating in a report on Thursday, February 8th. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus set a $60.00 target price on shares of Target and gave the company a “hold” rating in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Target currently has an average rating of “Hold” and a consensus 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 on Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Harrison sold 8,557 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total transaction of $656,664.18. Following the sale, the insider now owns 13,288 shares in the company, valued at $1,019,721.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,262 shares of company stock worth $1,185,484 over the last 90 days. Insiders own 0.20% of the company’s stock.
Target Co. (TGT) opened at $73.88 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The stock has a market cap of $39,072.00, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 3.40 and a beta of 0.76. Target Co. has a 12 month low of $48.56 and a 12 month high of $78.70.
Target (NYSE:TGT) last announced its quarterly earnings data 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. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. Target’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 EPS. equities research analysts anticipate that Target Co. will post 4.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 annualized dividend and a dividend yield of 3.36%. Target’s payout ratio is currently 51.88%.
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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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