Access Financial Services Inc. boosted its stake in shares of Target Corporation (NYSE:TGT) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,815 shares of the retailer’s stock after buying an additional 646 shares during the period. Target Corporation makes up about 1.1% of Access Financial Services Inc.’s investment portfolio, making the stock its 27th largest position. Access Financial Services Inc.’s holdings in Target Corporation were worth $1,298,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Cribstone Capital Management LLC boosted its stake in shares of Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the last quarter. Reilly Financial Advisors LLC boosted its stake in shares of Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the last quarter. Pinnacle Bank acquired a new stake in shares of Target Corporation during the first quarter worth about $123,000. Peoples Financial Services CORP. boosted its stake in shares of Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.
Shares of Target Corporation (NYSE TGT) traded up 0.02% during trading on Friday, hitting $55.65. 6,022,770 shares of the company’s stock were exchanged. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The firm has a 50-day moving average price of $53.97 and a 200-day moving average price of $56.53. The stock has a market cap of $30.70 billion, a P/E ratio of 11.40 and a beta of 0.61. Target Corporation also was the recipient of unusually large options trading activity on Tuesday. Investors acquired 43,644 call options on the stock. This is an increase of approximately 350% compared to the typical volume of 9,688 call options.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The firm had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts expect that Target Corporation will post $4.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is 48.98%.
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A number of brokerages have issued reports on TGT. Vetr cut shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price on the stock. in a report on Monday. BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Cowen and Company reissued a “market perform” rating and set a $64.00 target price on shares of Target Corporation in a report on Friday, July 14th. BMO Capital Markets upped their price target on shares of Target Corporation from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Friday, July 14th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a report on Friday, July 14th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $61.99.
In related news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.
Target Corporation 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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