Zions Bancorporation purchased a new stake in shares of Target Co. (NYSE:TGT) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,118 shares of the retailer’s stock, valued at approximately $275,000.
A number of other institutional investors have also made changes to their positions in the business. Dearborn Partners LLC increased its position in Target by 9.7% during the 3rd quarter. Dearborn Partners LLC now owns 6,784 shares of the retailer’s stock worth $598,000 after buying an additional 600 shares during the period. NewSquare Capital LLC increased its position in Target by 2.6% during the 3rd quarter. NewSquare Capital LLC now owns 25,031 shares of the retailer’s stock worth $2,208,000 after buying an additional 632 shares during the period. Trust Co. of Vermont increased its position in Target by 3.5% during the 2nd quarter. Trust Co. of Vermont now owns 19,236 shares of the retailer’s stock worth $1,464,000 after buying an additional 647 shares during the period. Checchi Capital Advisers LLC increased its position in Target by 10.7% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,895 shares of the retailer’s stock worth $608,000 after buying an additional 668 shares during the period. Finally, Sumitomo Life Insurance Co. increased its position in Target by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,551 shares of the retailer’s stock worth $1,184,000 after buying an additional 671 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on TGT. Stifel Nicolaus raised their price target on Target from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Thursday, August 23rd. UBS Group raised their price target on Target from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, August 23rd. Wells Fargo & Co raised their price target on Target from $72.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday, August 23rd. BMO Capital Markets began coverage on Target in a research report on Monday, September 17th. They issued a “market perform” rating and a $88.00 price target on the stock. Finally, Barclays raised their price target on Target from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Target presently has a consensus rating of “Hold” and an average target price of $87.68.
NYSE:TGT opened at $85.35 on Tuesday. The stock has a market capitalization of $44.43 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 2.33 and a beta of 0.73. 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 twelve month low of $54.04 and a twelve month high of $90.39.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.07. The business had revenue of $17.78 billion for the quarter, compared to analyst estimates of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. Target’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. Equities analysts predict that Target Co. will post 5.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, November 20th. Target’s dividend payout ratio (DPR) is presently 54.35%.
In related news, insider Janna A. Potts sold 15,172 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $88.00, for a total value of $1,335,136.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephanie A. Lundquist sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total value of $180,600.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
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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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