BTC Capital Management Inc. purchased a new position in shares of Target Corporation (NYSE:TGT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,587 shares of the retailer’s stock, valued at approximately $212,000.
A number of other institutional investors have also bought and sold shares of TGT. BlackRock Inc. grew its holdings in Target Corporation by 2,069.0% during the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after purchasing an additional 44,877,391 shares during the period. Dodge & Cox boosted its holdings in shares of Target Corporation by 83.3% during the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after acquiring an additional 9,102,526 shares during the period. Capital Research Global Investors bought a new stake in shares of Target Corporation during the second quarter worth approximately $235,305,000. Franklin Resources Inc. boosted its holdings in shares of Target Corporation by 8.7% during the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after acquiring an additional 1,686,774 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Target Corporation by 45.1% during the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock worth $309,101,000 after acquiring an additional 1,629,222 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on TGT. Zacks Investment Research cut Target Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $67.50 price objective for the company in a report on Monday. MKM Partners began coverage on Target Corporation in a report on Wednesday, October 18th. They set a “buy” rating and a $85.00 price objective for the company. Stifel Nicolaus set a $60.00 price objective on Target Corporation and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Wells Fargo & Company began coverage on Target Corporation in a report on Friday, November 3rd. They set a “market perform” rating and a $62.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.06.
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Shares of Target Corporation (TGT) traded down $0.42 during trading hours on Tuesday, hitting $59.98. 1,863,592 shares of the stock traded hands, compared to its average volume of 7,166,543. The firm has a market capitalization of $33,538.63, a P/E ratio of 12.45, a PEG ratio of 2.90 and a beta of 0.63. The company has a quick ratio of 0.26, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. 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 quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the 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%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. sell-side analysts expect that Target Corporation will post 4.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. Target Corporation’s dividend payout ratio (DPR) is presently 50.00%.
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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