Caxton Associates LP bought a new stake in shares of Target Co. (NYSE:TGT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,042 shares of the retailer’s stock, valued at approximately $730,000.
Other institutional investors have also added to or reduced their stakes in the company. Loeb Partners Corp bought a new stake in shares of Target in the 4th quarter valued at about $28,000. Lindbrook Capital LLC bought a new stake in shares of Target in the 4th quarter valued at about $32,000. Eukles Asset Management bought a new stake in shares of Target in the 4th quarter valued at about $33,000. We Are One Seven LLC bought a new stake in shares of Target in the 4th quarter valued at about $36,000. Finally, Clean Yield Group bought a new stake in shares of Target in the 4th quarter valued at about $44,000. Institutional investors own 82.08% of the company’s stock.
TGT has been the subject of a number of research reports. Morgan Stanley lowered their target price on Target from $70.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, November 23rd. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Friday, March 8th. Citigroup lowered their target price on Target from $92.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, November 21st. Telsey Advisory Group reissued an “outperform” rating and set a $88.00 target price (up from $86.00) on shares of Target in a research note on Wednesday, March 6th. Finally, BMO Capital Markets increased their target price on Target from $70.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve 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 “Buy” and an average price target of $87.25.
Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. Target had a return on equity of 25.74% and a net margin of 3.90%. The firm had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.05 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. The business’s revenue was up .0% on a year-over-year basis. On average, sell-side analysts forecast that Target Co. will post 5.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is presently 47.50%.
In other news, insider Cathy R. Smith sold 30,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $74.00, for a total value of $2,220,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
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Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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