Target Co. (TGT) Position Reduced by KBC Group NV
KBC Group NV reduced its holdings in shares of Target Co. (NYSE:TGT) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 209,035 shares of the retailer’s stock after selling 13,644 shares during the quarter. KBC Group NV’s holdings in Target were worth $13,640,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Carnick & Kubik Group LLC bought a new stake in Target during the third quarter worth $554,000. CAPROCK Group Inc. bought a new stake in Target during the third quarter worth $832,000. SignalPoint Asset Management LLC bought a new stake in Target during the third quarter worth $258,000. Pacer Advisors Inc. lifted its holdings in Target by 6.9% during the third quarter. Pacer Advisors Inc. now owns 37,779 shares of the retailer’s stock worth $2,229,000 after acquiring an additional 2,422 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Target by 15.5% during the third quarter. Principal Financial Group Inc. now owns 925,877 shares of the retailer’s stock worth $54,636,000 after acquiring an additional 124,409 shares during the period. Institutional investors and hedge funds own 87.85% of the company’s stock.
In related news, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now directly owns 16,906 shares in the company, valued at $1,320,020.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert M. Harrison sold 8,557 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the transaction, the insider now owns 13,288 shares of the company’s stock, valued at $1,019,721.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,262 shares of company stock worth $1,185,484. 0.20% of the stock is currently owned by corporate insiders.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The company had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. During the same period in the previous year, the company posted $1.04 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. research analysts anticipate that Target Co. will post 4.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.36%. Target’s payout ratio is 52.10%.
A number of analysts recently commented on TGT shares. Vetr lowered Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price target on the stock. in a report on Monday, November 20th. Deutsche Bank upgraded Target from a “neutral” rating to a “positive” rating and boosted their target price for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Zacks Investment Research lowered Target from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley lowered their target price on Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Thursday, November 16th. Finally, Barclays set a $45.00 target price on Target and gave the company a “sell” rating in a research note on Wednesday, November 15th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Target presently has a consensus rating of “Hold” and an average price target of $67.64.
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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