Logan Capital Management Inc. lessened its stake in shares of Target Corporation (NYSE:TGT) by 87.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,542 shares of the retailer’s stock after selling 217,896 shares during the period. Logan Capital Management Inc.’s holdings in Target Corporation were worth $1,649,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Boston Private Wealth LLC raised its holdings in Target Corporation by 4.5% during the 2nd quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock worth $2,795,000 after buying an additional 2,285 shares during the period. Conning Inc. raised its holdings in Target Corporation by 2.1% during the 2nd quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock worth $27,323,000 after buying an additional 10,966 shares during the period. Patten & Patten Inc. TN acquired a new stake in Target Corporation during the 2nd quarter worth about $234,000. Pitcairn Co. raised its holdings in Target Corporation by 92.7% during the 2nd quarter. Pitcairn Co. now owns 23,445 shares of the retailer’s stock worth $1,226,000 after buying an additional 11,278 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in Target Corporation by 516.5% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 87,730 shares of the retailer’s stock worth $4,587,000 after buying an additional 73,499 shares during the period. Hedge funds and other institutional investors own 83.23% of the company’s stock.
Target Corporation (NYSE:TGT) opened at 59.15 on Thursday. The company has a market cap of $32.31 billion, a PE ratio of 11.95 and a beta of 0.62. The stock’s 50 day moving average price is $57.67 and its 200 day moving average price is $55.45. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The company had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Target Corporation will post $4.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. Target Corporation’s payout ratio is 50.00%.
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In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.
Several analysts have issued reports on TGT shares. TheStreet upgraded Target Corporation from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Vetr downgraded Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.28 price objective on the stock. in a report on Thursday, July 20th. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. MKM Partners boosted their price objective on Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Tuesday. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $63.08.
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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