First National Trust Co. boosted its position in Target Corporation (NYSE:TGT) by 26.7% during the first quarter, Holdings Channel reports. The institutional investor owned 46,723 shares of the retailer’s stock after buying an additional 9,839 shares during the period. First National Trust Co.’s holdings in Target Corporation were worth $2,578,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of TGT. Dodge & Cox bought a new position in shares of Target Corporation during the fourth quarter worth about $788,237,000. Bank of New York Mellon Corp boosted its position in shares of Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares during the last quarter. Norges Bank bought a new position in shares of Target Corporation during the fourth quarter worth about $460,220,000. LSV Asset Management boosted its position in shares of Target Corporation by 4.7% in the first quarter. LSV Asset Management now owns 5,727,335 shares of the retailer’s stock worth $316,091,000 after buying an additional 259,192 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Target Corporation by 1.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,347,272 shares of the retailer’s stock worth $169,544,000 after buying an additional 32,369 shares during the last quarter. 83.00% of the stock is currently owned by institutional investors.
Shares of Target Corporation (NYSE:TGT) opened at 52.06 on Thursday. The company has a market capitalization of $28.72 billion, a price-to-earnings ratio of 10.67 and a beta of 0.58. The company’s 50-day moving average price is $55.56 and its 200-day moving average price is $61.25. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. The company had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 earnings per share. Equities research analysts forecast that Target Corporation will post $4.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.76%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio (DPR) is 48.98%.
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A number of equities analysts recently issued reports on TGT shares. Cowen and Company decreased their target price on Target Corporation to $64.00 in a report on Wednesday, March 1st. Instinet decreased their target price on Target Corporation to $60.00 in a report on Wednesday, March 1st. Vetr cut Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.11 target price on the stock. in a report on Monday, April 10th. Buckingham Research restated a “buy” rating and issued a $71.00 target price on shares of Target Corporation in a report on Wednesday, April 19th. Finally, Zacks Investment Research upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, June 6th. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.76.
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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