Sterling Capital Management LLC lowered its position in Target Co. (NYSE:TGT) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,739 shares of the retailer’s stock after selling 10,671 shares during the quarter. Sterling Capital Management LLC’s holdings in Target were worth $12,790,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heritage Trust Co lifted its position in shares of Target by 129.7% during the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after purchasing an additional 1,000 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in shares of Target by 2,200.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after purchasing an additional 1,826 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Target by 23.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after purchasing an additional 399 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of Target by 109.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock worth $141,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its position in shares of Target by 19.1% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after purchasing an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.
TGT has been the subject of several research analyst reports. Moffett Nathanson initiated coverage on Target in a research report on Monday, December 4th. They set a “neutral” rating for the company. Zacks Investment Research cut Target from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. BMO Capital Markets reaffirmed a “market weight” rating on shares of Target in a report on Thursday, September 14th. Jefferies Group reaffirmed a “hold” rating on shares of Target in a report on Friday, August 25th. Finally, Wells Fargo & Company initiated coverage on Target in a report on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price target for the company. Five investment 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. The stock presently has an average rating of “Hold” and an average price target of $62.42.
Shares of Target Co. (NYSE TGT) traded down $0.73 on Friday, reaching $61.94. The company’s stock had a trading volume of 6,332,000 shares, compared to its average volume of 7,376,454. The company has a market cap of $34,065.70, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 7.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. Target Co. has a 52-week low of $48.56 and a 52-week high of $78.37.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. equities analysts forecast that Target Co. will post 4.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th were given a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.00%. Target’s payout ratio is 51.88%.
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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