Bragg Financial Advisors Inc lowered its position in Target Corporation (NYSE:TGT) by 4.5% during the third quarter, Holdings Channel reports. The fund owned 25,705 shares of the retailer’s stock after selling 1,198 shares during the period. Bragg Financial Advisors Inc’s holdings in Target Corporation were worth $1,765,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of TGT. BlackRock Fund Advisors raised its stake in shares of Target Corporation by 2.0% in the third quarter. BlackRock Fund Advisors now owns 8,348,981 shares of the retailer’s stock worth $573,408,000 after buying an additional 165,621 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Target Corporation by 3.9% in the second quarter. BlackRock Group LTD now owns 6,339,423 shares of the retailer’s stock worth $442,618,000 after buying an additional 236,371 shares during the last quarter. LSV Asset Management raised its stake in shares of Target Corporation by 6.4% in the third quarter. LSV Asset Management now owns 4,849,168 shares of the retailer’s stock worth $333,040,000 after buying an additional 292,180 shares during the last quarter. Morgan Stanley raised its stake in shares of Target Corporation by 31.8% in the third quarter. Morgan Stanley now owns 4,338,213 shares of the retailer’s stock worth $297,947,000 after buying an additional 1,045,711 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Target Corporation by 9.3% in the third quarter. APG Asset Management N.V. now owns 4,208,486 shares of the retailer’s stock worth $289,039,000 after buying an additional 357,100 shares during the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) opened at 65.73 on Friday. The company has a market capitalization of $36.92 billion, a price-to-earnings ratio of 11.70 and a beta of 0.63. Target Corporation has a 1-year low of $62.94 and a 1-year high of $84.14. The stock has a 50 day moving average of $67.98 and a 200-day moving average of $70.94.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Target Corporation had a net margin of 4.75% and a return on equity of 25.18%. The company earned $16.44 billion during the quarter, compared to analyst estimates of $16.30 billion. During the same period last year, the business earned $0.86 earnings per share. Target Corporation’s revenue was down 6.7% compared to the same quarter last year. Analysts forecast that Target Corporation will post $5.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Wednesday, February 15th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 13th. This represents a $2.40 annualized dividend and a yield of 3.65%. Target Corporation’s payout ratio is presently 42.93%.
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Several brokerages have issued reports on TGT. J P Morgan Chase & Co reiterated a “hold” rating and issued a $79.00 price target on shares of Target Corporation in a research note on Thursday, November 17th. Zacks Investment Research lowered shares of Target Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Sanford C. Bernstein began coverage on shares of Target Corporation in a research note on Monday, February 6th. They issued an “outperform” rating and a $77.00 price target on the stock. Barclays PLC reiterated an “underweight” rating and issued a $65.00 price target on shares of Target Corporation in a research note on Wednesday, December 28th. Finally, BTIG Research reiterated a “buy” rating and issued a $77.00 price target (down from $85.00) on shares of Target Corporation in a research note on Thursday, January 19th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $73.92.
In other Target Corporation news, Director Anne M. Mulcahy sold 3,957 shares of Target Corporation stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $75.45, for a total transaction of $298,555.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.
Target Corporation Company Profile
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
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