Target Corporation (TGT) Position Raised by National Asset Management Inc.
National Asset Management Inc. boosted its holdings in shares of Target Corporation (NYSE:TGT) by 33.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,064 shares of the retailer’s stock after purchasing an additional 3,260 shares during the period. National Asset Management Inc.’s holdings in Target Corporation were worth $684,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Denver Investment Advisors LLC increased its stake in shares of Target Corporation by 0.9% in the 1st quarter. Denver Investment Advisors LLC now owns 162,726 shares of the retailer’s stock valued at $8,981,000 after buying an additional 1,455 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Target Corporation by 28.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,255 shares of the retailer’s stock valued at $2,277,000 after buying an additional 9,056 shares during the period. Camden National Bank increased its stake in shares of Target Corporation by 0.4% in the 1st quarter. Camden National Bank now owns 60,446 shares of the retailer’s stock valued at $3,336,000 after buying an additional 217 shares during the period. Toronto Dominion Bank increased its stake in shares of Target Corporation by 45.6% in the 1st quarter. Toronto Dominion Bank now owns 156,110 shares of the retailer’s stock valued at $8,615,000 after buying an additional 48,886 shares during the period. Finally, Blue Granite Capital LLC acquired a new stake in shares of Target Corporation in the 1st quarter valued at $1,214,000. 83.23% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) traded up 0.10% during mid-day trading on Tuesday, hitting $60.21. The stock had a trading volume of 406,494 shares. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The company has a market cap of $32.89 billion, a P/E ratio of 12.17 and a beta of 0.62. The firm’s 50 day moving average price is $58.05 and its 200 day moving average price is $55.55.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The company had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.23 EPS. Analysts predict that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.12%. Target Corporation’s dividend payout ratio is presently 50.00%.
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TGT has been the subject of several research reports. BidaskClub raised Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price for the company. in a research note on Monday, August 7th. Zacks Investment Research cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Jefferies Group LLC reissued a “hold” rating on shares of Target Corporation in a research note on Friday, August 25th. Finally, BMO Capital Markets reissued a “market weight” rating on shares of Target Corporation in a research note on Thursday, September 14th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $63.08.
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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