Target Corporation (TGT) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its position in shares of Target Corporation (NYSE:TGT) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 219,341 shares of the retailer’s stock after selling 2,900 shares during the period. Arizona State Retirement System’s holdings in Target Corporation were worth $12,105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OLD National Bancorp IN boosted its position in shares of Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock worth $3,440,000 after buying an additional 7,547 shares during the last quarter. ING Groep NV boosted its position in shares of Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock worth $421,000 after buying an additional 4,071 shares during the last quarter. Honeywell International Inc. boosted its position in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock worth $36,707,000 after buying an additional 205,700 shares during the last quarter. Cascade Investment Advisors Inc. boosted its position in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock worth $1,349,000 after buying an additional 4,685 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its position in shares of Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock worth $442,000 after buying an additional 1,844 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Target Corporation (TGT) opened at 50.41 on Wednesday. The stock’s 50 day moving average price is $54.35 and its 200 day moving average price is $60.17. The firm has a market capitalization of $27.81 billion, a P/E ratio of 10.33 and a beta of 0.60. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33.

Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The business had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Target Corporation’s revenue was down 1.1% compared to the same quarter last year. On average, analysts forecast that Target Corporation will post $4.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. 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 4.92%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio is 48.98%.

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A number of research analysts recently weighed in on TGT shares. BidaskClub cut Target Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Gordon Haskett started coverage on Target Corporation in a report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 target price on the stock. Zacks Investment Research cut Target Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, March 20th. Finally, Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 target price on the stock in a report on Wednesday, May 10th. Seven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.76.

In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

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