Target Corp. (TGT) Stake Decreased by Benedict Financial Advisors Inc.
Benedict Financial Advisors Inc. reduced its stake in shares of Target Corp. (NYSE:TGT) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 37,887 shares of the retailer’s stock after selling 353 shares during the period. Target Corp. comprises about 1.6% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 26th largest position. Benedict Financial Advisors Inc.’s holdings in Target Corp. were worth $2,654,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Target Corp. during the first quarter worth about $1,056,000. Aperio Group LLC raised its stake in shares of Target Corp. by 21.5% in the first quarter. Aperio Group LLC now owns 351,952 shares of the retailer’s stock worth $28,959,000 after buying an additional 62,383 shares during the period. Commonwealth Equity Services Inc raised its stake in shares of Target Corp. by 14.4% in the first quarter. Commonwealth Equity Services Inc now owns 136,546 shares of the retailer’s stock worth $11,235,000 after buying an additional 17,164 shares during the period. River Wealth Advisors LLC raised its stake in shares of Target Corp. by 4.0% in the first quarter. River Wealth Advisors LLC now owns 34,282 shares of the retailer’s stock worth $2,821,000 after buying an additional 1,307 shares during the period. Finally, Telemus Capital LLC raised its stake in shares of Target Corp. by 333.7% in the first quarter. Telemus Capital LLC now owns 13,878 shares of the retailer’s stock worth $1,142,000 after buying an additional 10,678 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.
Target Corp. (NYSE:TGT) remained flat at $68.68 during midday trading on Monday. The stock had a trading volume of 3,295,871 shares. The stock has a market capitalization of $39.48 billion, a PE ratio of 12.71 and a beta of 0.68. The firm’s 50-day moving average price is $69.88 and its 200 day moving average price is $73.71. Target Corp. has a one year low of $65.50 and a one year high of $84.14.
Target Corp. (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The business had revenue of $16.20 billion for the quarter. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. Analysts expect that Target Corp. will post $4.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s dividend payout ratio is currently 44.44%.
A number of brokerages have issued reports on TGT. Vetr lowered shares of Target Corp. from a “buy” rating to a “sell” rating and set a $66.50 price target on the stock. in a research note on Monday. Guggenheim began coverage on shares of Target Corp. in a research note on Friday. They set a “neutral” rating on the stock. Barclays PLC reiterated an “underweight” rating and set a $60.00 price target on shares of Target Corp. in a research note on Friday, September 23rd. Credit Suisse Group AG began coverage on shares of Target Corp. in a research note on Friday, September 16th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Jefferies Group reiterated a “hold” rating on shares of Target Corp. in a research note on Monday, September 12th. Three 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 stock presently has an average rating of “Hold” and an average target price of $76.73.
Target Corp. Company Profile
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
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