Arden Trust Co lessened its holdings in shares of Target Co. (NYSE:TGT) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,335 shares of the retailer’s stock after selling 100 shares during the period. Arden Trust Co’s holdings in Target were worth $840,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Fort Pitt Capital Group LLC grew its stake in shares of Target by 1.9% in the second quarter. Fort Pitt Capital Group LLC now owns 241,052 shares of the retailer’s stock worth $28,909,000 after acquiring an additional 4,522 shares during the last quarter. First Trust Advisors LP grew its position in Target by 1,078.6% in the 2nd quarter. First Trust Advisors LP now owns 1,383,804 shares of the retailer’s stock worth $165,960,000 after purchasing an additional 1,266,392 shares during the last quarter. CWM LLC increased its holdings in shares of Target by 39.5% during the 2nd quarter. CWM LLC now owns 278,582 shares of the retailer’s stock worth $33,410,000 after purchasing an additional 78,910 shares during the period. Trust Co. of Oklahoma acquired a new position in shares of Target during the third quarter valued at about $594,000. Finally, Meridian Wealth Management LLC bought a new stake in shares of Target in the second quarter valued at about $210,000. Hedge funds and other institutional investors own 80.87% of the company’s stock.
In other Target news, insider Don H. Liu sold 4,000 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $125.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now directly owns 68,330 shares of the company’s stock, valued at approximately $8,541,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie A. Lundquist sold 4,471 shares of the company’s stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $161.00, for a total transaction of $719,831.00. The disclosure for this sale can be found here. Insiders sold a total of 161,789 shares of company stock valued at $24,624,422 over the last three months. Insiders own 0.52% of the company’s stock.
Shares of NYSE TGT opened at $164.92 on Friday. Target Co. has a 12-month low of $90.17 and a 12-month high of $167.25. The firm’s 50-day simple moving average is $153.59 and its 200 day simple moving average is $127.60. The company has a quick ratio of 0.55, a current ratio of 1.11 and a debt-to-equity ratio of 1.13. The company has a market cap of $82.56 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 2.86 and a beta of 0.87.
Target (NYSE:TGT) last announced its earnings results on Wednesday, August 19th. The retailer reported $3.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $1.74. The company had revenue of $22.98 billion for the quarter, compared to analyst estimates of $20.11 billion. Target had a net margin of 4.16% and a return on equity of 30.25%. Target’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 earnings per share. On average, equities analysts expect that Target Co. will post 7.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a $0.68 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $2.72 dividend on an annualized basis and a yield of 1.65%. Target’s payout ratio is 42.57%.
Several equities analysts have commented on TGT shares. MKM Partners initiated coverage on Target in a report on Wednesday, July 29th. They issued a “sell” rating and a $105.00 price target for the company. BMO Capital Markets raised their target price on Target from $135.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. UBS Group lifted their price target on shares of Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Morgan Stanley raised their price objective on shares of Target from $135.00 to $165.00 and gave the stock an “equal weight” rating in a report on Thursday, August 20th. Finally, Raymond James reissued a “buy” rating and issued a $180.00 target price on shares of Target in a research note on Wednesday, August 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $141.21.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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