Columbia Asset Management lowered its stake in Target Corporation (NYSE:TGT) by 36.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,795 shares of the retailer’s stock after selling 10,574 shares during the period. Columbia Asset Management’s holdings in Target Corporation were worth $1,037,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in TGT. Chevy Chase Trust Holdings Inc. raised its position in shares of Target Corporation by 13.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 895,406 shares of the retailer’s stock worth $49,426,000 after buying an additional 104,130 shares in the last quarter. Triangle Securities Wealth Management raised its position in shares of Target Corporation by 1.2% in the first quarter. Triangle Securities Wealth Management now owns 21,179 shares of the retailer’s stock worth $1,169,000 after buying an additional 250 shares in the last quarter. First Financial Bank N.A. Trust Division raised its position in shares of Target Corporation by 2.6% in the first quarter. First Financial Bank N.A. Trust Division now owns 6,958 shares of the retailer’s stock worth $384,000 after buying an additional 175 shares in the last quarter. Park National Corp OH raised its position in shares of Target Corporation by 6.5% in the first quarter. Park National Corp OH now owns 348,354 shares of the retailer’s stock worth $19,226,000 after buying an additional 21,366 shares in the last quarter. Finally, Highbridge Capital Management LLC raised its position in shares of Target Corporation by 196.9% in the fourth quarter. Highbridge Capital Management LLC now owns 144,786 shares of the retailer’s stock worth $10,457,000 after buying an additional 96,016 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Target Corporation (NYSE TGT) traded down 0.84% on Friday, hitting $55.65. The company had a trading volume of 4,738,485 shares. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The stock has a market capitalization of $30.40 billion, a PE ratio of 11.24 and a beta of 0.61. The stock has a 50 day moving average of $54.68 and a 200-day moving average of $56.16.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion for 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%. Target Corporation’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. Equities analysts anticipate that Target Corporation will post $4.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. 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 yield of 4.46%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio (DPR) is 50.00%.
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A number of equities analysts recently issued reports on the stock. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 target price for the company in a research report on Wednesday, May 10th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Gordon Haskett assumed coverage on shares of Target Corporation in a research report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 target price for the company. MKM Partners increased their target price on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets set a $67.00 price target on shares of Target Corporation and gave the company a “hold” rating in a report on Friday. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $61.64.
In related news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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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