Ramsay Stattman Vela & Price Inc. bought a new position in shares of Target Corporation (NYSE:TGT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,500 shares of the retailer’s stock, valued at approximately $207,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Target Corporation by 23.8% in the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after buying an additional 399 shares during the period. Davidson Investment Advisors raised its stake in Target Corporation by 18.5% in the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after buying an additional 400 shares during the period. Cable Hill Partners LLC raised its stake in Target Corporation by 848.8% in the third quarter. Cable Hill Partners LLC now owns 2,666 shares of the retailer’s stock valued at $157,000 after buying an additional 2,385 shares during the period. Kistler Tiffany Companies LLC raised its stake in Target Corporation by 19.1% in the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after buying an additional 445 shares during the period. Finally, Rowland & Co. Investment Counsel ADV raised its stake in Target Corporation by 4.7% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock valued at $155,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) traded down 0.17% during midday trading on Wednesday, reaching $58.94. The company had a trading volume of 1,963,691 shares. The firm has a market capitalization of $32.19 billion, a P/E ratio of 11.91 and a beta of 0.62. The company has a 50 day moving average price of $59.51 and a 200-day moving average price of $56.16. Target Corporation has a one year low of $48.56 and a one year high of $79.33.
Target Corporation (NYSE:TGT) last issued its 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. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Target Corporation will post $4.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.20%. Target Corporation’s payout ratio is 50.00%.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction on 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 accessible through this hyperlink. Insiders own 0.20% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research lowered Target Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Stifel Nicolaus set a $60.00 price objective on Target Corporation and gave the company a “hold” rating in a research note on Wednesday, October 18th. MKM Partners assumed coverage on Target Corporation in a research note on Wednesday, October 18th. They issued a “buy” rating and a $85.00 price objective on the stock. TheStreet upgraded Target Corporation from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. Finally, BMO Capital Markets restated a “market weight” rating on shares of Target Corporation in a research note on Thursday, September 14th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have given a buy rating to the stock. Target Corporation presently has a consensus rating of “Hold” and a consensus price target of $63.75.
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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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