United Services Automobile Association cut its stake in shares of Target Corporation (NYSE:TGT) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 618,744 shares of the retailer’s stock after selling 117,146 shares during the period. United Services Automobile Association’s holdings in Target Corporation were worth $34,148,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. OLD National Bancorp IN increased its stake in shares of Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock valued at $3,440,000 after buying an additional 7,547 shares in the last quarter. ING Groep NV increased its stake in shares of Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock valued at $421,000 after buying an additional 4,071 shares in the last quarter. Honeywell International Inc. increased its stake in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock valued at $36,707,000 after buying an additional 205,700 shares in the last quarter. Cascade Investment Advisors Inc. increased its stake in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock valued at $1,349,000 after buying an additional 4,685 shares in the last quarter. Finally, Prospera Financial Services Inc increased its stake in shares of Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock valued at $442,000 after buying an additional 1,844 shares in the last quarter. Institutional investors own 83.21% of the company’s stock.
Target Corporation (NYSE:TGT) opened at 54.10 on Thursday. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The company has a market cap of $29.85 billion, a PE ratio of 11.09 and a beta of 0.60. The firm’s 50-day moving average price is $53.29 and its 200 day moving average price is $57.86.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Target Corporation will post $4.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is currently 48.98%.
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Several brokerages recently issued reports on TGT. BidaskClub downgraded shares of Target Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. ValuEngine downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Gordon Haskett began coverage on shares of Target Corporation in a research report on Tuesday, May 9th. They set a “sell” rating and a $47.00 price target on the stock. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price target on the stock in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $59.00 price target on shares of Target Corporation in a research report on Tuesday, June 20th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the stock. Target Corporation presently has an average rating of “Hold” and an average target price of $62.94.
In other news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.
Target Corporation 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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