Montag A & Associates Inc. decreased its stake in Target Co. (NYSE:TGT) by 10.4% during the first quarter, Holdings Channel reports. The institutional investor owned 10,184 shares of the retailer’s stock after selling 1,176 shares during the period. Montag A & Associates Inc.’s holdings in Target were worth $562,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hartford Investment Management Co. raised its position in Target by 3.4% in the third quarter. Hartford Investment Management Co. now owns 183,185 shares of the retailer’s stock valued at $12,581,000 after buying an additional 6,033 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Target by 1.7% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 112,116 shares of the retailer’s stock valued at $7,700,000 after buying an additional 1,925 shares in the last quarter. Carret Asset Management LLC raised its position in Target by 1.0% in the third quarter. Carret Asset Management LLC now owns 77,272 shares of the retailer’s stock valued at $5,307,000 after buying an additional 762 shares in the last quarter. Shamrock Asset Management LLC raised its position in Target by 140.0% in the third quarter. Shamrock Asset Management LLC now owns 2,779 shares of the retailer’s stock valued at $191,000 after buying an additional 1,621 shares in the last quarter. Finally, Country Trust Bank raised its position in Target by 14.0% in the third quarter. Country Trust Bank now owns 406,461 shares of the retailer’s stock valued at $27,916,000 after buying an additional 49,831 shares in the last quarter. Institutional investors own 88.53% of the company’s stock.
Target Co. (NYSE TGT) opened at 55.52 on Friday. The firm has a market capitalization of $30.63 billion, a PE ratio of 11.38 and a beta of 0.63. Target Co. has a 52-week low of $52.72 and a 52-week high of $79.33. The company’s 50-day moving average is $55.55 and its 200-day moving average is $63.29.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. Target had a net margin of 4.75% and a return on equity of 25.18%. The company had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same period last year, the business earned $1.29 earnings per share. Target’s revenue was down 1.1% compared to the same quarter last year. Analysts forecast that Target Co. will post $4.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be given a $0.60 dividend. The ex-dividend date is Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.32%. Target’s dividend payout ratio (DPR) is currently 42.93%.
Several research analysts have recently weighed in on the stock. UBS Group AG restated a “neutral” rating and set a $72.00 price objective on shares of Target in a research note on Tuesday, February 28th. Cowen and Company reaffirmed a “market perform” rating and set a $75.00 target price on shares of Target in a report on Tuesday, February 28th. Susquehanna Bancshares Inc started coverage on shares of Target in a report on Friday, February 10th. They set a “neutral” rating and a $70.00 target price for the company. Vetr downgraded shares of Target from a “strong-buy” rating to a “buy” rating and set a $72.80 target price for the company. in a report on Thursday, February 9th. Finally, Zacks Investment Research raised shares of Target from a “sell” rating to a “hold” rating in a report on Monday, February 20th. Six research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $65.49.
In other news, insider Don H. Liu acquired 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was bought at an average cost of $57.00 per share, for a total transaction of $114,000.00. Following the completion of the transaction, the insider now owns 56,983 shares of the company’s stock, valued at $3,248,031. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald R. Knauss acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was purchased at an average price of $54.86 per share, with a total value of $548,600.00. Following the completion of the transaction, the director now directly owns 16,431 shares of the company’s stock, valued at approximately $901,404.66. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.
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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