Capital City Trust Co. FL boosted its stake in Target Co. (NYSE:TGT) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,611 shares of the retailer’s stock after acquiring an additional 837 shares during the quarter. Capital City Trust Co. FL’s holdings in Target were worth $1,906,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its stake in Target by 5.3% in the 2nd quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock worth $3,255,697,000 after purchasing an additional 2,161,982 shares during the period. LSV Asset Management boosted its stake in Target by 1.2% in the 2nd quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock worth $570,620,000 after purchasing an additional 90,489 shares during the period. Dimensional Fund Advisors LP boosted its stake in Target by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,266,772 shares of the retailer’s stock worth $324,768,000 after purchasing an additional 106,616 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Target by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,908,902 shares of the retailer’s stock worth $297,546,000 after purchasing an additional 34,470 shares during the period. Finally, Swedbank bought a new position in Target in the 3rd quarter worth about $198,324,000. Institutional investors and hedge funds own 83.52% of the company’s stock.
Shares of NYSE TGT traded down $1.15 during trading hours on Thursday, reaching $83.27. 277,389 shares of the stock traded hands, compared to its average volume of 5,329,793. The stock has a market cap of $46.43 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 2.44 and a beta of 0.70. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 1.09. Target Co. has a 52-week low of $54.04 and a 52-week high of $90.39.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.07. The company had revenue of $17.78 billion for the quarter, compared to analysts’ expectations of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. Target’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. On average, analysts forecast that Target Co. will post 5.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.07%. Target’s dividend payout ratio is 54.35%.
A number of brokerages have recently issued reports on TGT. Loop Capital set a $102.00 price target on Target and gave the company a “hold” rating in a research report on Friday, August 17th. UBS Group lifted their price target on Target from $76.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 17th. Guggenheim reiterated a “hold” rating on shares of Target in a research report on Wednesday, August 22nd. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Tuesday, August 7th. Finally, Deutsche Bank set a $90.00 price target on Target and gave the company a “hold” rating in a research report on Saturday, August 25th. One investment analyst has rated the stock with a sell rating, fourteen 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 a consensus rating of “Hold” and an average target price of $87.68.
In related news, insider Stephanie A. Lundquist sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total transaction of $180,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Janna A. Potts sold 15,172 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $88.00, for a total value of $1,335,136.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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