Pinnacle Financial Partners Inc. lessened its position in Target Co. (NYSE:TGT) by 36.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,993 shares of the retailer’s stock after selling 11,598 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Target were worth $1,180,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. WINTON GROUP Ltd raised its holdings in shares of Target by 153.2% during the first quarter. WINTON GROUP Ltd now owns 515,268 shares of the retailer’s stock valued at $35,389,000 after purchasing an additional 311,776 shares during the last quarter. Stockman Wealth Management Inc. raised its holdings in shares of Target by 24.9% during the first quarter. Stockman Wealth Management Inc. now owns 62,432 shares of the retailer’s stock valued at $3,446,000 after purchasing an additional 12,451 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Target by 10.0% during the first quarter. Legal & General Group Plc now owns 3,239,795 shares of the retailer’s stock valued at $178,827,000 after purchasing an additional 293,967 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of Target by 2.3% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 7,465 shares of the retailer’s stock valued at $412,000 after purchasing an additional 166 shares during the last quarter. Finally, Hartland & Co. LLC raised its holdings in shares of Target by 8.1% during the first quarter. Hartland & Co. LLC now owns 13,185 shares of the retailer’s stock valued at $728,000 after purchasing an additional 985 shares during the last quarter. Hedge funds and other institutional investors own 87.41% of the company’s stock.
Several research firms have recently weighed in on TGT. BidaskClub cut shares of Target from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 target price (up from $58.00) on shares of Target in a report on Friday, August 18th. TheStreet raised shares of Target from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Gordon Haskett raised shares of Target from a “sell” rating to a “hold” rating and upped their target price for the company from $47.00 to $58.00 in a report on Wednesday, August 16th. Finally, ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $63.25.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.
Target Co. (NYSE:TGT) traded up $0.37 during mid-day trading on Thursday, reaching $61.09. 3,964,810 shares of the company’s stock traded hands, compared to its average volume of 7,417,983. Target Co. has a fifty-two week low of $48.56 and a fifty-two week high of $78.42. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $33,100.00, a price-to-earnings ratio of 12.96, a P/E/G ratio of 7.69 and a beta of 0.64.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The business had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. During the same quarter last year, the business earned $1.04 earnings per share. Target’s quarterly revenue was up 1.4% compared to the same quarter last year. research analysts anticipate that Target Co. will post 4.54 EPS for the current fiscal year.
The company also recently announced 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 4.06%. The ex-dividend date is Tuesday, November 14th. Target’s dividend payout ratio is currently 52.10%.
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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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