Seven Eight Capital LP acquired a new position in shares of Target Co. (NYSE:TGT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 75,470 shares of the retailer’s stock, valued at approximately $6,657,000.
Other institutional investors have also recently made changes to their positions in the company. Bath Savings Trust Co bought a new position in Target during the 3rd quarter worth approximately $229,000. Highstreet Asset Management Inc. raised its holdings in Target by 2.6% during the 2nd quarter. Highstreet Asset Management Inc. now owns 38,835 shares of the retailer’s stock worth $2,956,000 after purchasing an additional 980 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of Target by 7.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 58,289 shares of the retailer’s stock valued at $5,142,000 after acquiring an additional 4,011 shares in the last quarter. Uncommon Cents Investing LLC increased its stake in shares of Target by 2.2% in the 2nd quarter. Uncommon Cents Investing LLC now owns 31,623 shares of the retailer’s stock valued at $2,407,000 after acquiring an additional 685 shares in the last quarter. Finally, D L Carlson Investment Group Inc. increased its stake in shares of Target by 21.2% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 61,919 shares of the retailer’s stock valued at $4,713,000 after acquiring an additional 10,835 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.
TGT has been the subject of several research analyst reports. Wells Fargo & Co lifted their price objective on shares of Target from $72.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, August 23rd. UBS Group lifted their price objective on shares of Target from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, August 23rd. Gordon Haskett upgraded shares of Target from a “hold” rating to an “accumulate” rating in a research note on Wednesday, July 25th. Credit Suisse Group set a $86.00 price objective on shares of Target and gave the company a “hold” rating in a research note on Saturday, August 25th. Finally, Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $88.74.
Shares of NYSE:TGT traded down $0.66 during midday trading on Friday, reaching $86.94. The company had a trading volume of 3,489,440 shares, compared to its average volume of 4,737,078. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.17 and a current ratio of 0.82. The company has a market capitalization of $45.67 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. Target Co. has a 52-week low of $54.04 and a 52-week high of $90.39.
Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.07. The company had revenue of $17.78 billion for the quarter, compared to the consensus estimate of $17.33 billion. Target had a net margin of 4.19% and a return on equity of 24.29%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. As a group, research analysts predict that Target Co. will post 5.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Tuesday, November 20th. Target’s dividend payout ratio (DPR) is currently 54.35%.
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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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