Target Corporation (TGT) Stake Increased by Parkwood LLC
Parkwood LLC raised its stake in Target Corporation (NYSE:TGT) by 19.5% during the first quarter, Holdings Channel reports. The fund owned 57,530 shares of the retailer’s stock after buying an additional 9,382 shares during the period. Parkwood LLC’s holdings in Target Corporation were worth $3,175,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. Flippin Bruce & Porter Inc. boosted its stake in Target Corporation by 41.9% in the first quarter. Flippin Bruce & Porter Inc. now owns 141,615 shares of the retailer’s stock valued at $7,816,000 after buying an additional 41,835 shares during the last quarter. Tdam USA Inc. boosted its stake in shares of Target Corporation by 42.8% in the first quarter. Tdam USA Inc. now owns 14,201 shares of the retailer’s stock worth $784,000 after buying an additional 4,258 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Target Corporation by 12.7% in the first quarter. TD Asset Management Inc. now owns 492,201 shares of the retailer’s stock worth $27,165,000 after buying an additional 55,634 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Target Corporation during the first quarter worth $14,701,000. Finally, Allegis Investment Advisors LLC boosted its stake in shares of Target Corporation by 1.2% in the first quarter. Allegis Investment Advisors LLC now owns 8,244 shares of the retailer’s stock worth $455,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s stock.
Shares of Target Corporation (TGT) opened at 52.61 on Friday. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The firm’s 50-day moving average price is $55.81 and its 200-day moving average price is $61.88. The stock has a market capitalization of $29.03 billion, a P/E ratio of 10.78 and a beta of 0.58. Target Corporation also saw some unusual options trading on Friday. Stock investors purchased 4,936 call options on the stock. This represents an increase of 262% compared to the typical daily volume of 1,363 call options.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The company had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. During the same period last year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts forecast that Target Corporation will post $4.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. The ex-dividend date is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.71%. Target Corporation’s dividend payout ratio (DPR) is 48.98%.
A number of equities research analysts have weighed in on the company. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price objective for the company in a research note on Monday. BidaskClub upgraded Target Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, June 6th. ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Target Corporation in a research note on Friday, May 19th. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. Target Corporation presently has an average rating of “Hold” and an average price target of $64.68.
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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