Raymond James & Associates trimmed its position in Target Co. (NYSE:TGT) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,059,856 shares of the retailer’s stock after selling 12,667 shares during the quarter. Raymond James & Associates’ holdings in Target were worth $69,156,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Heritage Trust Co boosted its position in Target by 129.7% during the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after purchasing an additional 1,000 shares during the period. SevenBridge Financial Group LLC boosted its position in Target by 2,200.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after purchasing an additional 1,826 shares during the period. Security Asset Management acquired a new position in Target during the 4th quarter valued at approximately $115,000. First Mercantile Trust Co. acquired a new position in Target during the 4th quarter valued at approximately $124,000. Finally, Independence Bank of Kentucky acquired a new position in Target during the 4th quarter valued at approximately $147,000. Institutional investors and hedge funds own 87.02% of the company’s stock.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the sale, the insider now owns 16,906 shares of the company’s stock, 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 this link. Also, insider Robert M. Harrison sold 8,557 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the sale, the insider now directly owns 13,288 shares in the company, valued at approximately $1,019,721.12. The disclosure for this sale can be found here. Insiders sold a total of 16,262 shares of company stock worth $1,185,484 in the last three months. Company insiders own 0.20% of the company’s stock.
Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.02). Target had a return on equity of 23.04% and a net margin of 4.08%. The firm had revenue of $22.77 billion during the quarter, compared to the consensus estimate of $22.56 billion. During the same period in the prior year, the firm posted $1.45 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. sell-side analysts expect that Target Co. will post 5.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Tuesday, February 20th. Target’s dividend payout ratio is presently 46.36%.
A number of research firms recently issued reports on TGT. Zacks Investment Research lowered Target from a “buy” rating to a “hold” rating in a research report on Tuesday. Vetr upgraded Target from a “hold” rating to a “buy” rating and set a $75.42 price objective for the company in a research report on Tuesday, March 6th. Telsey Advisory Group reduced their price objective on Target from $83.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, March 7th. Susquehanna Bancshares set a $95.00 price objective on Target and gave the company a “buy” rating in a research report on Monday, March 5th. Finally, Morgan Stanley set a $64.00 price objective on Target and gave the company a “sell” rating in a research report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.97.
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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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