SNS Financial Group LLC grew its stake in shares of Target Co. (NYSE:TGT) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,089 shares of the retailer’s stock after buying an additional 344 shares during the period. SNS Financial Group LLC’s holdings in Target were worth $810,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Phocas Financial Corp. purchased a new stake in Target in the fourth quarter worth approximately $25,000. CI Investments Inc. purchased a new stake in Target in the fourth quarter worth approximately $27,000. Loeb Partners Corp purchased a new stake in Target in the fourth quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in Target by 62.2% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Finally, Advisory Alpha LLC purchased a new stake in Target in the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.
In other Target news, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total value of $143,781.48. Following the completion of the transaction, the insider now owns 12,836 shares in the company, valued at $1,030,474.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephanie A. Lundquist sold 8,367 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total value of $736,379.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,103 shares of company stock valued at $1,982,750. 0.19% of the stock is owned by corporate insiders.
Shares of Target stock traded down $0.52 during midday trading on Friday, reaching $87.78. 1,199,360 shares of the company’s stock traded hands, compared to its average volume of 6,249,969. The company has a quick ratio of 0.19, a current ratio of 0.88 and a debt-to-equity ratio of 1.21. The company has a market cap of $45.40 billion, a PE ratio of 16.29, a P/E/G ratio of 2.11 and a beta of 0.57. Target Co. has a 12 month low of $60.15 and a 12 month high of $90.39.
Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.10. The company had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, research analysts anticipate that Target Co. will post 5.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $0.66 dividend. This is an increase from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 3.01%. Target’s dividend payout ratio is 47.50%.
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Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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