Palisade Asset Management LLC decreased its position in shares of Target Co. (NYSE:TGT) by 0.7% in the 2nd quarter, Holdings Channel reports. The firm owned 159,176 shares of the retailer’s stock after selling 1,081 shares during the quarter. Target accounts for about 2.1% of Palisade Asset Management LLC’s portfolio, making the stock its 9th largest holding. Palisade Asset Management LLC’s holdings in Target were worth $13,786,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management grew its position in shares of Target by 2.4% during the 1st quarter. LSV Asset Management now owns 7,391,837 shares of the retailer’s stock worth $593,268,000 after buying an additional 171,019 shares during the period. Geode Capital Management LLC grew its position in shares of Target by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock worth $460,727,000 after buying an additional 381,831 shares during the period. American Century Companies Inc. grew its position in shares of Target by 18.8% during the 1st quarter. American Century Companies Inc. now owns 3,178,060 shares of the retailer’s stock worth $255,071,000 after buying an additional 502,098 shares during the period. Nordea Investment Management AB grew its position in shares of Target by 59.7% during the 1st quarter. Nordea Investment Management AB now owns 2,893,715 shares of the retailer’s stock worth $232,253,000 after buying an additional 1,081,856 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of Target by 1.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 2,658,165 shares of the retailer’s stock worth $213,344,000 after buying an additional 46,261 shares during the period. Hedge funds and other institutional investors own 83.15% of the company’s stock.
Several analysts have recently commented on TGT shares. Citigroup raised their price objective on shares of Target from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Credit Suisse Group set a $90.00 price target on shares of Target and gave the company a “buy” rating in a research report on Thursday, May 23rd. Goldman Sachs Group started coverage on shares of Target in a research report on Thursday, July 11th. They issued a “buy” rating and a $102.00 price target for the company. Barclays reissued a “buy” rating and issued a $95.00 price target on shares of Target in a research report on Thursday, May 30th. Finally, Bank of America set a $105.00 price target on shares of Target and gave the company a “buy” rating in a research report on Thursday, May 23rd. Eleven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Target presently has a consensus rating of “Buy” and a consensus target price of $90.52.
In other news, insider Michael Edward Mcnamara sold 11,891 shares of Target stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $88.79, for a total transaction of $1,055,801.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie A. Lundquist sold 8,367 shares of Target stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total value of $736,379.67. The disclosure for this sale can be found here. Insiders have sold a total of 33,180 shares of company stock worth $2,854,650 over the last ninety days. Insiders own 0.24% of the company’s stock.
TGT traded down $0.89 during mid-day trading on Monday, reaching $80.63. 366,400 shares of the stock were exchanged, compared to its average volume of 4,136,678. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.19. The stock has a market capitalization of $41.77 billion, a PE ratio of 14.94, a PEG ratio of 1.95 and a beta of 0.61. The business has a 50 day moving average of $87.22. Target Co. has a 1 year low of $60.15 and a 1 year high of $90.39.
Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.10. The firm had revenue of $17.63 billion for the quarter, compared to the consensus estimate of $17.49 billion. Target had a net margin of 3.96% and a return on equity of 26.48%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 EPS. On average, equities research analysts expect that Target Co. will post 5.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.27%. This is an increase from Target’s previous quarterly dividend of $0.64. The ex-dividend date is Tuesday, August 20th. Target’s payout ratio is currently 47.50%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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