Target Co. (TGT) Position Cut by Sheaff Brock Investment Advisors LLC
Sheaff Brock Investment Advisors LLC trimmed its holdings in Target Co. (NYSE:TGT) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,346 shares of the retailer’s stock after selling 1,661 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Target were worth $433,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Dodge & Cox boosted its stake in Target by 83.3% during the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after purchasing an additional 9,102,526 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of Target during the 2nd quarter valued at $235,305,000. Franklin Resources Inc. lifted its position in shares of Target by 8.7% during the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after acquiring an additional 1,686,774 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Target by 45.1% during the 3rd quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after acquiring an additional 1,629,222 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Target by 43.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,778,242 shares of the retailer’s stock valued at $197,565,000 after acquiring an additional 1,143,598 shares during the last quarter. 87.41% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on TGT. Barclays set a $45.00 price objective on Target and gave the company a “sell” rating in a research report on Wednesday, November 15th. Stifel Nicolaus reduced their target price on Target from $65.00 to $62.00 and set a “hold” rating for the company in a report on Thursday, November 16th. Vetr lowered Target from a “buy” rating to a “hold” rating and set a $57.89 target price for the company. in a report on Thursday, August 17th. MKM Partners increased their target price on Target from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Tuesday, October 10th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. Target has a consensus rating of “Hold” and an average price target of $63.25.
In other Target news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Target Co. (NYSE:TGT) traded down $0.36 during midday trading on Wednesday, hitting $62.20. 8,184,200 shares of the stock were exchanged, compared to its average volume of 7,440,670. Target Co. has a 1-year low of $48.56 and a 1-year high of $78.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The firm has a market capitalization of $34,014.06, a P/E ratio of 13.04, a PEG ratio of 7.74 and a beta of 0.64.
Target (NYSE:TGT) last posted its earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 earnings per share. analysts anticipate that Target Co. will post 4.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders 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 3.99%. The ex-dividend date is Tuesday, November 14th. Target’s payout ratio is 51.88%.
Target 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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