Blue Chip Partners Inc. boosted its holdings in Target Corporation (NYSE:TGT) by 2.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 75,480 shares of the retailer’s stock after buying an additional 1,670 shares during the period. Target Corporation makes up about 1.4% of Blue Chip Partners Inc.’s investment portfolio, making the stock its 26th largest position. Blue Chip Partners Inc.’s holdings in Target Corporation were worth $4,454,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. BlackRock Inc. raised its holdings in Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares during the period. Dodge & Cox raised its holdings in Target Corporation by 83.3% in the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after buying an additional 9,102,526 shares during the period. Capital Research Global Investors purchased a new position in Target Corporation in the second quarter valued at approximately $235,305,000. Franklin Resources Inc. raised its holdings in Target Corporation by 8.7% in the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after buying an additional 1,686,774 shares during the period. Finally, American Century Companies Inc. raised its holdings in Target Corporation by 45.1% in the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after buying an additional 1,629,222 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.
Several research firms recently commented on TGT. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $57.89 price objective on the stock. in a research note on Thursday, August 17th. MKM Partners lifted their price objective on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, October 10th. Finally, TheStreet upgraded shares of Target Corporation from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $63.68.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) traded down $0.31 on Wednesday, hitting $60.09. 8,014,200 shares of the stock traded hands, compared to its average volume of 7,170,398. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The firm has a market capitalization of $29,970.00, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 2.84 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.26 and a debt-to-equity ratio of 0.98.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. equities analysts expect that Target Corporation will post 4.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio (DPR) is 50.10%.
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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