Stephens Inc. AR lowered its position in Target Co. (NYSE:TGT) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,943 shares of the retailer’s stock after selling 4,207 shares during the period. Stephens Inc. AR’s holdings in Target were worth $7,617,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Comerica Securities Inc. raised its stake in Target by 12.9% during the 4th quarter. Comerica Securities Inc. now owns 8,930 shares of the retailer’s stock valued at $590,000 after purchasing an additional 1,020 shares during the period. Geode Capital Management LLC raised its stake in Target by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock valued at $460,727,000 after purchasing an additional 381,831 shares during the period. Altman Advisors Inc. raised its stake in Target by 18.7% during the 1st quarter. Altman Advisors Inc. now owns 30,467 shares of the retailer’s stock valued at $2,445,000 after purchasing an additional 4,794 shares during the period. First Manhattan Co. raised its stake in Target by 2.2% during the 1st quarter. First Manhattan Co. now owns 8,566 shares of the retailer’s stock valued at $687,000 after purchasing an additional 184 shares during the period. Finally, First Command Bank raised its stake in Target by 17.7% during the 1st quarter. First Command Bank now owns 904 shares of the retailer’s stock valued at $73,000 after purchasing an additional 136 shares during the period. Institutional investors own 83.09% of the company’s stock.
TGT has been the topic of a number of research reports. Citigroup upped their price target on shares of Target from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. Deutsche Bank raised shares of Target from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $99.00 in a research note on Monday, August 5th. UBS Group upped their price target on shares of Target from $77.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. Goldman Sachs Group initiated coverage on shares of Target in a research note on Thursday, July 11th. They issued a “buy” rating and a $102.00 price target on the stock. Finally, Morgan Stanley raised shares of Target from an “underweight” rating to an “equal weight” rating and set a $67.00 price target on the stock in a research note on Monday, May 20th. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Target presently has a consensus rating of “Buy” and an average price target of $90.06.
In related news, insider Michael Edward Mcnamara sold 11,891 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roxanne S. Austin sold 4,163 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $89.00, for a total transaction of $370,507.00. The disclosure for this sale can be found here. Insiders sold 33,180 shares of company stock valued at $2,854,650 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.
NYSE:TGT traded up $0.97 during trading hours on Thursday, reaching $82.86. The company’s stock had a trading volume of 2,857,482 shares, compared to its average volume of 4,522,139. The company has a market cap of $42.03 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. Target Co. has a one year low of $60.15 and a one year high of $90.39. The business has a 50-day moving average of $86.08. The company has a current ratio of 0.88, a quick ratio of 0.19 and a debt-to-equity ratio of 1.21.
Target (NYSE:TGT) last issued 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 during the quarter, compared to analysts’ expectations of $17.49 billion. Target had a net margin of 3.96% and a return on equity of 26.48%. Target’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. Sell-side analysts forecast that Target Co. will post 5.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This is a boost from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 3.19%. Target’s dividend 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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