Community Bank N.A. trimmed its position in Target Corporation (NYSE:TGT) by 5.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,959 shares of the retailer’s stock after selling 335 shares during the period. Community Bank N.A.’s holdings in Target Corporation were worth $311,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TGT. BlackRock Inc. boosted its position in Target Corporation by 2,069.0% in the 1st quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Target Corporation by 14.2% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock worth $568,896,000 after purchasing an additional 1,279,077 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Target Corporation by 11.6% in the 1st quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after purchasing an additional 996,689 shares during the last quarter. Smead Capital Management Inc. bought a new position in shares of Target Corporation in the 2nd quarter worth $41,667,000. Finally, Hexavest Inc. bought a new position in shares of Target Corporation in the 2nd quarter worth $41,629,000. Hedge funds and other institutional investors own 83.22% of the company’s stock.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
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Several research firms have recently issued reports on TGT. BMO Capital Markets restated a “market weight” rating on shares of Target Corporation in a research report on Thursday, September 14th. Vetr lowered Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price target on the stock. in a research report on Monday, August 7th. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. MKM Partners raised their price target on Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, ValuEngine lowered Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company. Target Corporation currently has an average rating of “Hold” and a consensus price target of $61.64.
Target Corporation (NYSE TGT) traded up 1.13% during mid-day trading on Friday, hitting $58.99. The company had a trading volume of 3,510,618 shares. The company’s 50 day moving average price is $56.82 and its 200-day moving average price is $55.00. The firm has a market capitalization of $32.22 billion, a PE ratio of 11.92 and a beta of 0.60. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33.
Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that Target Corporation will post $4.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. Target Corporation’s dividend payout ratio is presently 50.00%.
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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