Boston Financial Mangement LLC lessened its stake in Target Co. (NYSE:TGT) by 24.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,980 shares of the retailer’s stock after selling 2,242 shares during the quarter. Boston Financial Mangement LLC’s holdings in Target were worth $455,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Carnick & Kubik Group LLC bought a new stake in shares of Target in the 3rd quarter worth approximately $554,000. CAPROCK Group Inc. bought a new stake in shares of Target in the 3rd quarter worth approximately $832,000. SignalPoint Asset Management LLC bought a new stake in shares of Target in the 3rd quarter worth approximately $258,000. Pacer Advisors Inc. raised its holdings in shares of Target by 6.9% in the 3rd quarter. Pacer Advisors Inc. now owns 37,779 shares of the retailer’s stock worth $2,229,000 after purchasing an additional 2,422 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Target by 15.5% in the 3rd quarter. Principal Financial Group Inc. now owns 925,877 shares of the retailer’s stock worth $54,636,000 after purchasing an additional 124,409 shares during the period. 87.36% of the stock is currently owned by institutional investors.
TGT has been the topic of a number of research reports. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Vetr cut shares of Target from a “strong-buy” rating to a “buy” rating and set a $66.10 price target on the stock. in a report on Wednesday, November 29th. MKM Partners initiated coverage on shares of Target in a report on Wednesday, October 18th. They issued a “buy” rating and a $85.00 price target on the stock. Sanford C. Bernstein set a $65.00 price target on shares of Target and gave the stock a “buy” rating in a report on Thursday, December 14th. Finally, Barclays raised shares of Target from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $45.00 to $70.00 in a report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Target presently has an average rating of “Hold” and an average target price of $67.64.
Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.04 EPS. equities research analysts forecast that Target Co. will post 4.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.49%. Target’s dividend payout ratio (DPR) is currently 52.10%.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now directly owns 16,906 shares in the company, valued at approximately $1,320,020.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Harrison sold 8,557 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total transaction of $656,664.18. Following the transaction, the insider now owns 13,288 shares of the company’s stock, valued at $1,019,721.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,262 shares of company stock valued at $1,185,484 over the last 90 days. Company insiders own 0.25% of the company’s stock.
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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