Cliftonlarsonallen Wealth Advisors LLC boosted its position in Target Corporation (NYSE:TGT) by 26.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,777 shares of the retailer’s stock after buying an additional 3,459 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Target Corporation were worth $926,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. LSV Asset Management boosted its position in Target Corporation by 6.4% in the third quarter. LSV Asset Management now owns 4,849,168 shares of the retailer’s stock valued at $333,040,000 after buying an additional 292,180 shares during the last quarter. Aviance Capital Partners LLC boosted its position in Target Corporation by 3.9% in the third quarter. Aviance Capital Partners LLC now owns 18,321 shares of the retailer’s stock valued at $1,258,000 after buying an additional 692 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Target Corporation by 1.7% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 112,116 shares of the retailer’s stock valued at $7,700,000 after buying an additional 1,925 shares during the last quarter. Aetna Inc. PA bought a new position in Target Corporation during the fourth quarter valued at $10,470,000. Finally, Prospera Financial Services Inc boosted its position in shares of Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock worth $442,000 after buying an additional 1,844 shares during the last quarter. 83.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Target Corporation (NYSE:TGT) traded down 1.71% during midday trading on Monday, hitting $51.71. 14,747,171 shares of the company were exchanged. The company has a 50-day moving average price of $55.81 and a 200-day moving average price of $61.88. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The stock has a market capitalization of $28.53 billion, a price-to-earnings ratio of 10.60 and a beta of 0.58. Target Corporation also saw unusually large options trading on Friday. Stock traders purchased 4,936 call options on the stock. This is an increase of approximately 262% compared to the average daily volume of 1,363 call options.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. During the same quarter in the prior year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts forecast that Target Corporation will post $4.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 annualized dividend and a yield of 4.80%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio (DPR) is currently 48.98%.
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A number of brokerages have commented on TGT. TheStreet cut shares of Target Corporation from a “b-” rating to a “c+” rating in a research note on Monday, March 27th. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.66 target price for the company. in a report on Monday, June 12th. Jefferies Group LLC restated a “hold” rating and issued a $59.00 target price (up previously from $56.00) on shares of Target Corporation in a report on Friday, May 19th. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Telsey Advisory Group raised their target price on shares of Target Corporation from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Thursday, May 18th. Six research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.68.
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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