Pioneer Trust Bank N A OR reduced its position in shares of Target Corporation (NYSE:TGT) by 14.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,380 shares of the retailer’s stock after selling 5,065 shares during the period. Pioneer Trust Bank N A OR’s holdings in Target Corporation were worth $1,589,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after buying an additional 44,877,391 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock worth $568,896,000 after buying an additional 1,279,077 shares in the last quarter. Bank of New York Mellon Corp increased its position in Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares in the last quarter. Morgan Stanley increased its position in Target Corporation by 1.6% in the first quarter. Morgan Stanley now owns 6,716,718 shares of the retailer’s stock worth $370,696,000 after buying an additional 107,163 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Target Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 6,035,990 shares of the retailer’s stock worth $332,703,000 after buying an additional 494,836 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.
Target Corporation (NYSE TGT) traded down 0.009% during trading on Friday, reaching $56.115. The company’s stock had a trading volume of 1,813,173 shares. The stock has a 50-day moving average of $54.58 and a 200 day moving average of $56.22. The firm has a market capitalization of $30.65 billion, a P/E ratio of 11.339 and a beta of 0.61. Target Corporation has a one year low of $48.56 and a one year high of $79.33.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. On average, equities research analysts predict that Target Corporation will post $4.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a $0.62 dividend. The ex-dividend date is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.42%. Target Corporation’s dividend payout ratio is 50.00%.
A number of brokerages have commented on TGT. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price target for the company. in a research report on Monday, August 7th. Zacks Investment Research upgraded Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Gordon Haskett began coverage on Target Corporation in a research report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 price target for the company. Finally, BMO Capital Markets upped their price target on Target Corporation from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Friday, July 14th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.56.
In other news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.
About Target Corporation
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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