United Services Automobile Association decreased its stake in Target Corporation (NYSE:TGT) by 15.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Capital Guardian Trust Co. raised its position in Target Corporation by 394.4% in the fourth quarter. Capital Guardian Trust Co. now owns 3,787 shares of the retailer’s stock valued at $274,000 after buying an additional 3,021 shares in the last quarter. Pinnacle Financial Partners Inc. raised its stake in shares of Target Corporation by 23.8% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 52,683 shares of the retailer’s stock worth $3,805,000 after buying an additional 10,112 shares during the period. Narus Financial Partners LLC acquired a new stake in shares of Target Corporation during the fourth quarter worth $202,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Target Corporation during the fourth quarter worth $1,914,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Target Corporation during the fourth quarter worth $516,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Shares of Target Corporation (TGT) opened at 55.79 on Tuesday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The company has a market capitalization of $30.78 billion, a P/E ratio of 11.43 and a beta of 0.61. The company has a 50-day moving average price of $54.26 and a 200 day moving average price of $56.29.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. The business had revenue of $16.02 billion during 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 company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. Equities research analysts anticipate that Target Corporation will post $4.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.45%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio is 48.98%.
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A number of brokerages have recently weighed in on TGT. BidaskClub lowered Target Corporation from a “buy” rating to a “hold” rating in a research note on Saturday. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 target price for the company in a research note on Monday. Cowen and Company restated a “market perform” rating and issued a $64.00 target price on shares of Target Corporation in a research note on Friday, July 14th. BMO Capital Markets raised their price target on Target Corporation from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Friday, July 14th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a report on Friday, July 14th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $61.99.
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 value of $137,359.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% 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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