American International Group Inc. decreased its position in Target Co. (NYSE:TGT) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,843 shares of the retailer’s stock after selling 10,577 shares during the period. American International Group Inc.’s holdings in Target were worth $11,026,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Target by 1.5% in the second quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock valued at $2,716,176,000 after purchasing an additional 775,265 shares in the last quarter. BlackRock Inc. raised its position in shares of Target 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 last quarter. Vanguard Group Inc. raised its position in shares of Target by 0.4% in the second quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock valued at $1,942,803,000 after buying an additional 130,252 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Target 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 last quarter. Finally, Dodge & Cox raised its position in shares of Target 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 last quarter. 87.41% of the stock is currently owned by institutional investors and hedge funds.
In other Target news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.
Shares of Target Co. (NYSE:TGT) traded down $1.12 during trading hours on Wednesday, hitting $61.08. 2,175,159 shares of the company’s stock were exchanged, compared to its average volume of 7,440,670. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. Target Co. has a 52 week low of $48.56 and a 52 week high of $78.42. The firm has a market capitalization of $34,014.06, a PE ratio of 13.04, a price-to-earnings-growth ratio of 7.74 and a beta of 0.64.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. The business had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 EPS. sell-side analysts predict that Target Co. will post 4.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.06%. Target’s payout ratio is 51.88%.
A number of research firms have recently weighed in on TGT. BidaskClub lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 price target (up previously from $58.00) on shares of Target in a research report on Friday, August 18th. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet raised shares of Target from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. Finally, Gordon Haskett raised shares of Target from a “sell” rating to a “hold” rating and increased their price objective for the stock from $47.00 to $58.00 in a research report on Wednesday, August 16th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company. Target presently has a consensus rating of “Hold” and an average target price of $63.25.
Target 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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