One Capital Management LLC Increases Stake in Target Corp. (TGT)
One Capital Management LLC raised its stake in shares of Target Corp. (NYSE:TGT) by 3.9% during the third quarter, Holdings Channel reports. The firm owned 27,798 shares of the retailer’s stock after buying an additional 1,037 shares during the period. One Capital Management LLC’s holdings in Target Corp. were worth $1,909,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Exxonmobil Investment Management Inc. TX boosted its position in Target Corp. by 4.0% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 152,534 shares of the retailer’s stock worth $10,650,000 after buying an additional 5,906 shares during the last quarter. LVM Capital Management Ltd. MI bought a new position in Target Corp. during the second quarter worth $6,840,000. DNB Asset Management AS boosted its position in Target Corp. by 2.6% in the second quarter. DNB Asset Management AS now owns 50,780 shares of the retailer’s stock worth $3,545,000 after buying an additional 1,300 shares during the last quarter. Washington Trust Bank boosted its position in Target Corp. by 11.7% in the second quarter. Washington Trust Bank now owns 3,736 shares of the retailer’s stock worth $261,000 after buying an additional 390 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its position in Target Corp. by 7.2% in the second quarter. NEXT Financial Group Inc now owns 2,816 shares of the retailer’s stock worth $196,000 after buying an additional 189 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.
Target Corp. (NYSE:TGT) traded down 1.49% during midday trading on Wednesday, reaching $77.24. The company’s stock had a trading volume of 5,819,108 shares. The firm’s 50-day moving average price is $70.95 and its 200-day moving average price is $70.65. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The stock has a market capitalization of $43.39 billion, a PE ratio of 13.74 and a beta of 0.59.
Target Corp. (NYSE:TGT) last issued its earnings results on Wednesday, November 16th. The retailer reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.21. Target Corp. had a net margin of 4.75% and a return on equity of 25.18%. The firm had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter last year, the company posted $0.86 earnings per share. Target Corp.’s revenue was down 6.7% on a year-over-year basis. On average, analysts anticipate that Target Corp. will post $5.20 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.11%. Target Corp.’s dividend payout ratio is presently 42.93%.
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A number of analysts have issued reports on the company. Credit Suisse Group AG initiated coverage on Target Corp. in a research report on Friday, September 16th. They set a “neutral” rating and a $65.00 target price on the stock. MKM Partners restated a “neutral” rating and set a $78.00 price objective (up previously from $73.00) on shares of Target Corp. in a report on Tuesday, August 16th. Vetr cut Target Corp. from a “buy” rating to a “hold” rating and set a $69.32 price objective for the company. in a report on Monday, November 7th. Nomura set a $75.00 price objective on Target Corp. and gave the company a “hold” rating in a report on Thursday, August 18th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $79.00 price objective on shares of Target Corp. in a report on Thursday, November 17th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $75.02.
In related news, Director Anne M. Mulcahy sold 3,957 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $75.45, for a total value of $298,555.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.
Target Corp. 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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