Sun Life Financial INC raised its position in shares of Target Corporation (NYSE:TGT) by 23,329.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,983 shares of the retailer’s stock after purchasing an additional 3,966 shares during the period. Sun Life Financial INC’s holdings in Target Corporation were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Target Corporation by 23.8% during the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after acquiring an additional 399 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Target Corporation by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after acquiring an additional 204 shares in the last quarter. Davidson Investment Advisors lifted its position in shares of Target Corporation by 18.5% during the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after acquiring an additional 400 shares in the last quarter. Kistler Tiffany Companies LLC lifted its position in shares of Target Corporation by 19.1% during the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after acquiring an additional 445 shares in the last quarter. Finally, Sandy Spring Bank lifted its position in shares of Target Corporation by 6.7% during the second quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock worth $155,000 after acquiring an additional 185 shares in the last quarter. 83.23% of the stock is owned by institutional investors and hedge funds.
Target Corporation (NYSE:TGT) opened at 57.60 on Wednesday. The stock’s 50 day moving average price is $57.60 and its 200-day moving average price is $55.42. The company has a market capitalization of $31.46 billion, a PE ratio of 11.64 and a beta of 0.62. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. On average, equities research analysts predict that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio is 50.00%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.
TGT has been the topic of several recent research reports. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price on the stock in a research report on Monday, June 19th. BidaskClub upgraded Target Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. BMO Capital Markets increased their target price 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. Citigroup Inc. downgraded Target Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $51.00 to $56.00 in a research report on Wednesday, June 21st. Finally, Cowen and Company restated a “market perform” rating and set a $64.00 target price on shares of Target Corporation in a research report on Friday, July 14th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $63.08.
Target Corporation 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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