Community Bank N.A. reduced its position in Target Corporation (NYSE:TGT) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,959 shares of the retailer’s stock after selling 335 shares during the quarter. Community Bank N.A.’s holdings in Target Corporation were worth $311,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Target Corporation by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 3,474,227 shares of the retailer’s stock worth $181,661,000 after purchasing an additional 234,432 shares during the period. Alps Advisors Inc. raised its position in Target Corporation by 65.7% in the 2nd quarter. Alps Advisors Inc. now owns 8,911 shares of the retailer’s stock worth $466,000 after purchasing an additional 3,534 shares during the period. Denver Investment Advisors LLC raised its position in Target Corporation by 39.9% in the 2nd quarter. Denver Investment Advisors LLC now owns 227,607 shares of the retailer’s stock worth $11,902,000 after purchasing an additional 64,881 shares during the period. Conning Inc. raised its position in Target Corporation by 2.1% in the 2nd quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock worth $27,323,000 after purchasing an additional 10,966 shares during the period. Finally, Trillium Asset Management LLC raised its position in Target Corporation by 3.2% in the 2nd quarter. Trillium Asset Management LLC now owns 217,687 shares of the retailer’s stock worth $11,382,000 after purchasing an additional 6,850 shares during the period. 83.33% of the stock is currently owned by institutional investors.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.
A number of analysts recently weighed in on the stock. Jefferies Group LLC reissued a “hold” rating on shares of Target Corporation in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. Stifel Nicolaus reissued a “hold” rating and issued a $60.00 price objective (up from $58.00) on shares of Target Corporation in a research report on Friday, August 18th. BMO Capital Markets reissued a “market perform” rating and issued a $67.00 price objective (up from $62.00) on shares of Target Corporation in a research report on Friday, August 18th. Finally, Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $57.89 price objective on the stock. in a research report on Thursday, August 17th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.64.
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Shares of Target Corporation (NYSE:TGT) opened at 57.27 on Friday. The firm has a 50-day moving average of $56.11 and a 200 day moving average of $55.29. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The firm has a market capitalization of $31.28 billion, a P/E ratio of 11.57 and a beta of 0.60.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter in the previous year, the business posted $1.23 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that Target Corporation will post $4.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.33%. The ex-dividend date is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is 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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