Bank of New York Mellon Corp raised its holdings in shares of Target Corporation (NYSE:TGT) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,738,657 shares of the retailer’s stock after acquiring an additional 682,253 shares during the period. Bank of New York Mellon Corp owned approximately 1.78% of Target Corporation worth $574,680,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Target Corporation by 23.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after purchasing an additional 399 shares during the period. Davidson Investment Advisors increased its position in shares of Target Corporation by 18.5% during the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after purchasing an additional 400 shares during the period. Jacobi Capital Management LLC increased its position in shares of Target Corporation by 109.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock valued at $141,000 after purchasing an additional 1,310 shares during the period. Kistler Tiffany Companies LLC increased its position in shares of Target Corporation by 19.1% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after purchasing an additional 445 shares during the period. Finally, Sandy Spring Bank increased its position in shares of Target Corporation by 6.7% during the 2nd quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock valued at $155,000 after purchasing an additional 185 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’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 at this link. 0.20% of the stock is owned by insiders.
Shares of Target Corporation (NYSE:TGT) traded down $0.72 during trading hours on Tuesday, hitting $59.68. The company’s stock had a trading volume of 3,550,344 shares, compared to its average volume of 7,166,543. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The firm has a market capitalization of $33,538.63, a PE ratio of 12.45, a P/E/G ratio of 2.90 and a beta of 0.63. The company has a quick ratio of 0.26, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $16.30 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. equities analysts forecast that Target Corporation will post 4.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.16%. Target Corporation’s dividend payout ratio is currently 50.00%.
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Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Target Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $67.50 target price on the stock in a report on Monday. MKM Partners assumed coverage on Target Corporation in a report on Wednesday, October 18th. They issued a “buy” rating and a $85.00 target price on the stock. Stifel Nicolaus set a $60.00 target price on Target Corporation and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Wells Fargo & Company assumed coverage on Target Corporation in a report on Friday, November 3rd. They issued a “market perform” rating and a $62.00 target price on the stock. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company’s stock. Target Corporation has an average rating of “Hold” and a consensus target price of $64.06.
Target Corporation 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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