State Street Corp boosted its stake in Target Corporation (NYSE:TGT) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,944,505 shares of the retailer’s stock after purchasing an additional 775,265 shares during the quarter. State Street Corp owned about 9.42% of Target Corporation worth $2,716,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Maverick Capital Ltd. purchased a new stake in Target Corporation in the second quarter valued at approximately $2,038,000. Cornerstone Capital Management Holdings LLC. raised its stake in Target Corporation by 52.4% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 188,410 shares of the retailer’s stock valued at $9,851,000 after purchasing an additional 64,794 shares in the last quarter. FTB Advisors Inc. raised its stake in Target Corporation by 14.0% in the second quarter. FTB Advisors Inc. now owns 112,082 shares of the retailer’s stock valued at $6,022,000 after purchasing an additional 13,801 shares in the last quarter. Janus Henderson Group PLC raised its stake in Target Corporation by 213.8% in the second quarter. Janus Henderson Group PLC now owns 226,307 shares of the retailer’s stock valued at $11,833,000 after purchasing an additional 154,186 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA raised its stake in Target Corporation by 8.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 7,430 shares of the retailer’s stock valued at $388,000 after purchasing an additional 550 shares in the last quarter. 83.23% of the stock is currently owned by institutional investors and hedge funds.
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TGT has been the topic of a number of recent research 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 research report on Monday, June 19th. UBS AG reiterated a “neutral” rating and set a $56.00 price target (down from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating and set a $59.00 price target on shares of Target Corporation in a research report on Tuesday, June 20th. BidaskClub cut shares of Target Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Citigroup Inc. cut shares of Target Corporation from a “buy” rating to a “neutral” rating and increased their price target for the company from $51.00 to $56.00 in a research report on Wednesday, June 21st. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.08.
Shares of Target Corporation (NYSE:TGT) opened at 60.19 on Friday. The firm’s 50 day moving average price is $57.78 and its 200-day moving average price is $55.48. The company has a market capitalization of $32.88 billion, a P/E ratio of 12.16 and a beta of 0.62. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same period last year, the business posted $1.23 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts expect that Target Corporation will post $4.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s payout ratio is 50.00%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.
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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