State Board of Administration of Florida Retirement System decreased its stake in Target Corporation (NYSE:TGT) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 847,864 shares of the retailer’s stock after selling 19,099 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.15% of Target Corporation worth $44,335,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in TGT. Welch & Forbes LLC raised its holdings in shares of Target Corporation by 0.3% during the 1st quarter. Welch & Forbes LLC now owns 8,150 shares of the retailer’s stock valued at $450,000 after purchasing an additional 24 shares in the last quarter. Compton Capital Management Inc. RI raised its holdings in shares of Target Corporation by 0.4% during the 1st quarter. Compton Capital Management Inc. RI now owns 8,824 shares of the retailer’s stock valued at $487,000 after purchasing an additional 32 shares in the last quarter. Gamble Jones Investment Counsel raised its holdings in shares of Target Corporation by 0.4% during the 2nd quarter. Gamble Jones Investment Counsel now owns 10,570 shares of the retailer’s stock valued at $553,000 after purchasing an additional 44 shares in the last quarter. WealthTrust Fairport LLC raised its holdings in shares of Target Corporation by 0.9% during the 1st quarter. WealthTrust Fairport LLC now owns 5,958 shares of the retailer’s stock valued at $329,000 after purchasing an additional 55 shares in the last quarter. Finally, Carlson Capital Management raised its holdings in shares of Target Corporation by 0.9% during the 2nd quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock valued at $421,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.
Target Corporation (NYSE TGT) opened at 57.29 on Tuesday. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The firm has a 50 day moving average of $56.15 and a 200-day moving average of $55.06. The company has a market capitalization of $31.29 billion, a P/E ratio of 11.58 and a beta of 0.60.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same period last year, the company posted $1.23 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that Target Corporation will post $4.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th were paid a $0.62 dividend. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Monday, August 14th. Target Corporation’s dividend payout ratio (DPR) is presently 50.00%.
Several research analysts recently commented on the stock. UBS AG reiterated a “neutral” rating and issued a $56.00 target price (down previously from $60.00) on shares of Target Corporation in a report on Tuesday, June 20th. Vetr downgraded shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.66 target price on the stock. in a report on Monday, June 12th. BMO Capital Markets reiterated a “market perform” rating and issued a $67.00 target price (up previously from $62.00) on shares of Target Corporation in a report on Friday, August 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $60.00 target price (up previously from $58.00) on shares of Target Corporation in a report on Friday, August 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 target price (up previously from $56.00) on shares of Target Corporation in a report on Friday, May 19th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. Target Corporation currently has a consensus rating of “Hold” and an average target price of $61.64.
In other 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.
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Target Corporation Profile
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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