Flippin Bruce & Porter Inc. lessened its holdings in shares of Target Corporation (NYSE:TGT) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 162,941 shares of the retailer’s stock after selling 3,865 shares during the quarter. Target Corporation makes up about 2.1% of Flippin Bruce & Porter Inc.’s investment portfolio, making the stock its 14th biggest position. Flippin Bruce & Porter Inc.’s holdings in Target Corporation were worth $9,615,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Carnick & Kubik Group LLC purchased a new position in shares of Target Corporation during the 3rd quarter worth $554,000. CAPROCK Group Inc. purchased a new position in shares of Target Corporation during the 3rd quarter worth $832,000. Boston Private Wealth LLC lifted its stake in shares of 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 purchasing an additional 2,285 shares during the period. Conning Inc. lifted its stake in shares of 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 purchasing an additional 10,966 shares during the period. Finally, Patten & Patten Inc. TN purchased a new position in shares of Target Corporation during the 2nd quarter worth $234,000. 83.51% of the stock is currently owned by institutional investors.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.
TGT has been the topic of a number of recent analyst reports. Vetr raised Target Corporation from a “buy” rating to a “strong-buy” rating and set a $60.06 price target on the stock in a research note on Monday, July 17th. BidaskClub raised Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. MKM Partners reissued a “neutral” rating on shares of Target Corporation in a research note on Tuesday, August 15th. Gordon Haskett raised Target Corporation from a “sell” rating to a “hold” rating and increased their price target for the stock from $47.00 to $58.00 in a research note on Wednesday, August 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $67.00 target price (up from $62.00) on shares of Target Corporation in a research report on Friday, August 18th. Five 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’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.06.
Shares of Target Corporation (NYSE TGT) traded down $0.77 during trading on Tuesday, hitting $59.63. The stock had a trading volume of 3,681,632 shares, compared to its average volume of 7,166,543. The company has a quick ratio of 0.26, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $33,538.63, a P/E ratio of 12.45, a PEG ratio of 2.90 and a beta of 0.63. 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 earnings per share 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 during the quarter, compared to the consensus estimate of $16.30 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. sell-side analysts expect that Target Corporation will post 4.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. Target Corporation’s payout ratio is 50.00%.
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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