United Services Automobile Association reduced its position in Target Corporation (NYSE:TGT) by 15.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 618,744 shares of the retailer’s stock after selling 117,146 shares during the period. United Services Automobile Association owned approximately 0.11% of Target Corporation worth $34,148,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Target Corporation during the fourth quarter valued at $460,220,000. Assenagon Asset Management S.A. acquired a new stake in shares of Target Corporation during the fourth quarter valued at approximately $447,000. SNS Financial Group LLC raised its stake in shares of Target Corporation by 7.0% in the fourth quarter. SNS Financial Group LLC now owns 91,370 shares of the retailer’s stock valued at $6,600,000 after buying an additional 5,978 shares during the last quarter. Miles Capital Inc. raised its stake in shares of Target Corporation by 4.9% in the fourth quarter. Miles Capital Inc. now owns 13,954 shares of the retailer’s stock valued at $1,008,000 after buying an additional 656 shares during the last quarter. Finally, Putnam Investments LLC raised its stake in shares of Target Corporation by 4.0% in the fourth quarter. Putnam Investments LLC now owns 680,156 shares of the retailer’s stock valued at $49,128,000 after buying an additional 26,410 shares during the last quarter. 82.81% of the stock is owned by institutional investors.
Shares of Target Corporation (TGT) opened at 57.58 on Monday. The company’s 50-day moving average price is $53.26 and its 200 day moving average price is $56.79. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The company has a market cap of $31.77 billion, a price-to-earnings ratio of 11.80 and a beta of 0.61.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping the consensus estimate of $0.91 by $0.30. The firm had revenue of $16.02 billion for the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS. On average, analysts predict that Target Corporation will post $4.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given a $0.62 dividend. The ex-dividend date is Monday, August 14th. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.31%. Target Corporation’s dividend payout ratio is currently 48.98%.
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TGT has been the topic of several research analyst reports. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday. Buckingham Research reiterated a “buy” rating and issued a $71.00 price target on shares of Target Corporation in a report on Wednesday, April 19th. Zacks Investment Research upgraded Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Gordon Haskett initiated coverage on Target Corporation in a report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 price target on the stock. Finally, Vetr lowered Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.28 price target on the stock. in a report on Thursday, July 20th. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $62.01.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.
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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