Bremer Trust National Association Reduces Stake in Target Corporation (TGT)
Bremer Trust National Association lessened its holdings in shares of Target Corporation (NYSE:TGT) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,309 shares of the retailer’s stock after selling 1,674 shares during the period. Bremer Trust National Association’s holdings in Target Corporation were worth $727,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Target Corporation by 23.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after purchasing an additional 399 shares during the last quarter. Davidson Investment Advisors raised its position in shares of Target Corporation by 18.5% in the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after purchasing an additional 400 shares during the last quarter. Kistler Tiffany Companies LLC raised its position in shares of Target Corporation by 19.1% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after purchasing an additional 445 shares during the last quarter. Sandy Spring Bank raised its position in shares of Target Corporation by 6.7% in the 2nd quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock worth $155,000 after purchasing an additional 185 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV raised its position in shares of Target Corporation by 4.7% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock worth $155,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.
Shares of Target Corporation (TGT) traded up 0.42% on Wednesday, hitting $59.29. The company had a trading volume of 583,516 shares. The company has a market capitalization of $32.39 billion, a price-to-earnings ratio of 11.98 and a beta of 0.62. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The stock’s 50-day moving average is $59.51 and its 200 day moving average is $56.16.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. Target Corporation’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $1.23 earnings per share. Equities analysts expect that Target Corporation will post $4.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.20%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio is currently 50.00%.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on TGT shares. Vetr lowered Target Corporation from a “strong-buy” rating to a “buy” rating and set a $58.97 price target for the company. in a research report on Friday, July 14th. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a research report on Friday, July 14th. BMO Capital Markets lifted their price target on Target Corporation from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Friday, July 14th. Cowen and Company reaffirmed a “market perform” rating and issued a $64.00 price target on shares of Target Corporation in a research report on Friday, July 14th. Finally, BidaskClub raised Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.75.
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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