Cornerstone Capital Management Holdings LLC. increased its position in shares of Target Corporation (NYSE:TGT) by 52.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,410 shares of the retailer’s stock after acquiring an additional 64,794 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Target Corporation were worth $9,851,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Boston Private Wealth LLC raised its holdings in shares of Target Corporation by 4.5% during the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock valued at $2,795,000 after acquiring an additional 2,285 shares during the period. Conning Inc. raised its holdings in shares of Target Corporation by 2.1% during the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock valued at $27,323,000 after acquiring an additional 10,966 shares during the period. Patten & Patten Inc. TN acquired a new stake in shares of Target Corporation during the second quarter valued at approximately $234,000. Pitcairn Co. raised its holdings in shares of Target Corporation by 92.7% during the second quarter. Pitcairn Co. now owns 23,445 shares of the retailer’s stock valued at $1,226,000 after acquiring an additional 11,278 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of Target Corporation by 516.5% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 87,730 shares of the retailer’s stock valued at $4,587,000 after acquiring an additional 73,499 shares during the period. Institutional investors and hedge funds own 83.23% of the company’s stock.
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TGT has been the topic of a number of recent analyst reports. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price target on the stock in a report on Monday, June 19th. BMO Capital Markets boosted their price target on shares of Target Corporation from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Friday, July 14th. Citigroup Inc. lowered shares of Target Corporation from a “buy” rating to a “neutral” rating and boosted their price target for the company from $51.00 to $56.00 in a report on Wednesday, June 21st. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Cowen and Company restated a “market perform” rating and set a $64.00 price target on shares of Target Corporation in a report on Friday, July 14th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company’s stock. Target Corporation currently has an average rating of “Hold” and a consensus target price of $63.08.
Shares of Target Corporation (NYSE TGT) opened at 60.19 on Friday. The company has a market capitalization of $32.88 billion, a P/E ratio of 12.16 and a beta of 0.62. The company’s 50 day moving average is $57.78 and its 200 day moving average is $55.48. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. Analysts expect that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.12%. Target Corporation’s payout ratio is 50.00%.
In related 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 SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.
Target Corporation Company 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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