Target Corp. (TGT) Shares Sold by Whittier Trust Co.
Whittier Trust Co. lowered its position in Target Corp. (NYSE:TGT) by 4.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,167 shares of the retailer’s stock after selling 2,425 shares during the period. Whittier Trust Co.’s holdings in Target Corp. were worth $3,920,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in TGT. Edgar Lomax Co. VA boosted its stake in shares of Target Corp. by 501.1% in the first quarter. Edgar Lomax Co. VA now owns 715,210 shares of the retailer’s stock worth $58,847,000 after buying an additional 596,230 shares during the period. Meritage Portfolio Management boosted its stake in shares of Target Corp. by 37.2% in the second quarter. Meritage Portfolio Management now owns 190,926 shares of the retailer’s stock worth $13,330,000 after buying an additional 51,785 shares during the period. First Republic Investment Management Inc. boosted its stake in shares of Target Corp. by 6.9% in the first quarter. First Republic Investment Management Inc. now owns 642,667 shares of the retailer’s stock worth $52,877,000 after buying an additional 41,235 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Target Corp. by 6.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,158,318 shares of the retailer’s stock worth $80,872,000 after buying an additional 69,809 shares during the period. Finally, Strs Ohio boosted its stake in shares of Target Corp. by 4.8% in the second quarter. Strs Ohio now owns 522,392 shares of the retailer’s stock worth $36,473,000 after buying an additional 24,086 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.
Target Corp. (NYSE:TGT) traded up 0.92% during mid-day trading on Friday, reaching $69.04. 3,863,103 shares of the company traded hands. Target Corp. has a one year low of $65.50 and a one year high of $84.14. The stock’s 50-day moving average price is $69.40 and its 200-day moving average price is $73.53. The firm has a market cap of $39.68 billion, a PE ratio of 12.78 and a beta of 0.68.
Target Corp. (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.11. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The firm earned $16.20 billion during the quarter. During the same period in the prior year, the business earned $1.22 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts forecast that Target Corp. will post $4.95 earnings per share 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 issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.48%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio is currently 44.44%.
A number of equities analysts have commented on TGT shares. Morgan Stanley set a $64.00 price objective on shares of Target Corp. and gave the stock a “sell” rating in a report on Friday, August 19th. Vetr lowered shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $77.55 price objective on the stock. in a report on Monday, September 12th. Argus reiterated a “hold” rating on shares of Target Corp. in a report on Thursday, September 8th. Credit Suisse Group AG started coverage on shares of Target Corp. in a report on Friday, September 16th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, Barclays PLC reiterated an “underweight” rating and issued a $60.00 price objective on shares of Target Corp. in a report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the stock. Target Corp. has an average rating of “Hold” and an average price target of $76.82.
About Target Corp.
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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