Jarislowsky Fraser Ltd decreased its stake in shares of Target Corporation (NYSE:TGT) by 25.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,584 shares of the retailer’s stock after selling 5,235 shares during the period. Jarislowsky Fraser Ltd’s holdings in Target Corporation were worth $814,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of Target Corporation by 98.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 37,610 shares of the retailer’s stock valued at $2,717,000 after buying an additional 18,704 shares during the period. PagnatoKarp Partners LLC acquired a new stake in shares of Target Corporation during the fourth quarter valued at about $328,000. Numeric Investors LLC raised its stake in shares of Target Corporation by 2,710.9% in the fourth quarter. Numeric Investors LLC now owns 129,300 shares of the retailer’s stock valued at $9,339,000 after buying an additional 124,700 shares during the period. Putnam Investments LLC raised its stake in shares of Target Corporation by 4.0% in the fourth quarter. Putnam Investments LLC now owns 680,156 shares of the retailer’s stock valued at $49,128,000 after buying an additional 26,410 shares during the period. Finally, Miles Capital Inc. raised its stake in shares of Target Corporation by 4.9% in the fourth quarter. Miles Capital Inc. now owns 13,954 shares of the retailer’s stock valued at $1,008,000 after buying an additional 656 shares during the period. 82.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Target Corporation (TGT) opened at 58.74 on Wednesday. The firm has a market capitalization of $32.41 billion, a P/E ratio of 12.04 and a beta of 0.61. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The company has a 50 day moving average of $53.26 and a 200-day moving average of $56.79.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm had revenue of $16.02 billion for the quarter, compared to analyst estimates of $15.63 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. Analysts predict that Target Corporation will post $4.37 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be given a $0.62 dividend. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio is presently 48.98%.
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Several equities research analysts have issued reports on TGT shares. Buckingham Research reissued a “buy” rating and issued a $71.00 price target on shares of Target Corporation in a report on Wednesday, April 19th. Gordon Haskett started coverage on shares of Target Corporation in a report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 price target on the stock. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.51 price target on the stock. in a report on Tuesday, May 9th. Zacks Investment Research raised shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, Telsey Advisory Group boosted their price target on shares of Target Corporation from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Thursday, May 18th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.99.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.
Target Corporation Company Profile
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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