Snow Capital Management LP acquired a new position in shares of Target Corporation (NYSE:TGT) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,684 shares of the retailer’s stock, valued at approximately $203,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Country Club Trust Company n.a. increased its position in Target Corporation by 7.6% in the first quarter. Country Club Trust Company n.a. now owns 175,801 shares of the retailer’s stock worth $9,702,000 after buying an additional 12,409 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Target Corporation by 100.8% in the first quarter. Quadrant Capital Group LLC now owns 10,558 shares of the retailer’s stock valued at $578,000 after buying an additional 5,299 shares during the period. Dynamic Advisors Solutions LLC purchased a new stake in shares of Target Corporation during the first quarter valued at $450,000. Raymond James Trust N.A. increased its stake in shares of Target Corporation by 25.0% in the first quarter. Raymond James Trust N.A. now owns 66,620 shares of the retailer’s stock valued at $3,677,000 after buying an additional 13,305 shares during the period. Finally, Hefty Wealth Partners increased its stake in shares of Target Corporation by 2,435.9% in the first quarter. Hefty Wealth Partners now owns 28,174 shares of the retailer’s stock valued at $1,554,000 after buying an additional 27,063 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Target Corporation (NYSE:TGT) opened at 55.65 on Friday. The firm has a 50-day moving average of $54.68 and a 200-day moving average of $56.16. The stock has a market cap of $30.40 billion, a PE ratio of 11.24 and a beta of 0.61. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data 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 company had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. Target Corporation’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. Equities analysts predict that Target Corporation will post $4.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.46%. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is presently 50.00%.
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Several equities research analysts have weighed in on TGT shares. Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Tuesday, June 6th. 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 note on Wednesday, May 10th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Finally, MKM Partners raised their target price on shares of Target Corporation to $69.00 and gave the company a “buy” rating in a research note on Thursday. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company. Target Corporation presently has a consensus rating of “Hold” and an average price target of $61.64.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.
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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