Seven Eight Capital LP Acquires New Stake in Target Co. (TGT)

Share on StockTwits

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.

In other Target news, insider Stephanie A. Lundquist sold 2,100 shares of the company’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Janna A. Potts sold 15,172 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $88.00, for a total transaction of $1,335,136.00. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

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%.

TRADEMARK VIOLATION NOTICE: This report was reported by BBNS and is owned by of BBNS. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://baseballnewssource.com/2018/11/10/seven-eight-capital-lp-purchases-shares-of-75470-target-co-tgt/2847383.html.

Target Profile

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.

See Also: What does earnings per share mean?

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.