Sumitomo Mitsui Asset Management Company LTD reduced its stake in Target Corporation (NYSE:TGT) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,914 shares of the retailer’s stock after selling 2,983 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Target Corporation were worth $2,355,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Parallel Advisors LLC increased its holdings in Target Corporation by 23.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after acquiring an additional 399 shares during the last quarter. Davidson Investment Advisors increased its holdings in Target Corporation by 18.5% in the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after acquiring an additional 400 shares during the last quarter. Kistler Tiffany Companies LLC increased its holdings in shares of Target Corporation by 19.1% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after buying an additional 445 shares during the last quarter. Sandy Spring Bank increased its holdings in shares of Target Corporation by 6.7% in the 2nd quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock worth $155,000 after buying an additional 185 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV increased its holdings in shares of Target Corporation by 4.7% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock worth $155,000 after buying an additional 132 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) opened at $59.36 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.26 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $32,659.20, a price-to-earnings ratio of 12.13, a P/E/G ratio of 2.84 and a beta of 0.63.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. analysts predict that Target Corporation will post 4.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.18%. Target Corporation’s payout ratio is presently 50.00%.
TGT has been the topic of a number of research reports. TheStreet upgraded shares of Target Corporation from a “c+” rating to a “b” rating in a report on Thursday, September 28th. MKM Partners boosted their target price on shares of Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Tuesday, October 10th. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 target price on the stock in a report on Monday, August 14th. Finally, BMO Capital Markets restated a “market weight” rating on shares of Target Corporation in a report on Thursday, September 14th. Five research analysts have rated the stock with a sell rating, nineteen have issued 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 target price of $63.68.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently 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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