Target Corp. (TGT) Position Raised by Concert Wealth Management Inc.
Concert Wealth Management Inc. raised its position in shares of Target Corp. (NYSE:TGT) by 103.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,798 shares of the retailer’s stock after buying an additional 10,088 shares during the period. Concert Wealth Management Inc.’s holdings in Target Corp. were worth $1,385,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of TGT. Essex Financial Services Inc. raised its stake in shares of Target Corp. by 0.9% in the second quarter. Essex Financial Services Inc. now owns 9,810 shares of the retailer’s stock worth $685,000 after buying an additional 87 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Target Corp. by 121.8% in the second quarter. Quadrant Capital Group LLC now owns 9,965 shares of the retailer’s stock worth $685,000 after buying an additional 5,473 shares during the period. SignalPoint Asset Management LLC raised its stake in shares of Target Corp. by 8.9% in the second quarter. SignalPoint Asset Management LLC now owns 4,383 shares of the retailer’s stock worth $306,000 after buying an additional 357 shares during the period. Trillium Asset Management LLC raised its stake in shares of Target Corp. by 2.3% in the second quarter. Trillium Asset Management LLC now owns 240,116 shares of the retailer’s stock worth $16,765,000 after buying an additional 5,378 shares during the period. Finally, Savant Capital LLC raised its stake in shares of Target Corp. by 28.8% in the second quarter. Savant Capital LLC now owns 4,208 shares of the retailer’s stock worth $294,000 after buying an additional 940 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Shares of Target Corp. (NYSE:TGT) traded down 0.33% during trading on Monday, hitting $68.81. The company had a trading volume of 1,486,780 shares. The stock has a market cap of $39.55 billion, a PE ratio of 12.73 and a beta of 0.68. Target Corp. has a 12-month low of $65.50 and a 12-month high of $84.14. The firm has a 50 day moving average of $69.36 and a 200 day moving average of $73.44.
Target Corp. (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, topping the Zacks’ 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 firm’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. On average, analysts forecast that Target Corp. will post $4.95 earnings per share for the current fiscal year.
The firm 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. The ex-dividend date is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a yield of 3.48%. Target Corp.’s dividend payout ratio (DPR) is presently 44.44%.
A number of equities research analysts have weighed in on the company. Brean Capital restated a “buy” rating and set a $28.00 price objective on shares of Target Corp. in a research note on Saturday. Nomura set a $75.00 price objective on Target Corp. and gave the company a “hold” rating in a research note on Friday. Jefferies Group set a $72.00 price objective on Target Corp. and gave the company a “hold” rating in a research note on Tuesday, October 4th. Vetr upgraded Target Corp. from a “sell” rating to a “hold” rating and set a $68.37 target price for the company in a research report on Tuesday, October 4th. Finally, Guggenheim assumed coverage on Target Corp. in a research report on Friday, September 30th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $74.49.
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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