Tredje AP fonden lowered its position in Target Corporation (NYSE:TGT) by 21.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,796 shares of the retailer’s stock after selling 21,638 shares during the period. Tredje AP fonden’s holdings in Target Corporation were worth $4,404,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Dodge & Cox purchased a new stake in shares of Target Corporation during the fourth quarter worth about $788,237,000. Norges Bank purchased a new stake in shares of Target Corporation during the fourth quarter worth about $460,220,000. Bank of New York Mellon Corp boosted its position in Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares in the last quarter. Schroder Investment Management Group boosted its position in Target Corporation by 112.5% in the first quarter. Schroder Investment Management Group now owns 1,126,610 shares of the retailer’s stock worth $62,245,000 after buying an additional 596,551 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Target Corporation during the fourth quarter worth $36,479,000. Institutional investors and hedge funds own 82.63% of the company’s stock.
Target Corporation (NYSE TGT) traded up 1.49% during midday trading on Tuesday, hitting $58.74. The stock had a trading volume of 8,129,319 shares. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The stock has a market cap of $32.41 billion, a price-to-earnings ratio of 12.04 and a beta of 0.61. 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 announced its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the Zacks’ 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 period in the prior year, the company earned $1.29 EPS. Target Corporation’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts forecast that Target Corporation will post $4.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.22%. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio (DPR) is currently 48.98%.
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A number of equities analysts have weighed in on TGT shares. Vetr cut Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.11 price target for the company. in a report on Monday, April 10th. Buckingham Research restated a “buy” rating and issued a $71.00 price target on shares of Target Corporation in a report on Wednesday, April 19th. Gordon Haskett began coverage on Target Corporation in a research report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 target price on the stock. Zacks Investment Research raised Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Telsey Advisory Group upped their target price on Target Corporation from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Thursday, May 18th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $61.99.
In related news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.
About Target Corporation
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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