Boston Private Wealth LLC Buys 5,358 Shares of Target Corporation (NYSE:TGT)
Boston Private Wealth LLC increased its position in Target Corporation (NYSE:TGT) by 11.7% during the first quarter, Holdings Channel reports. The institutional investor owned 51,170 shares of the retailer’s stock after buying an additional 5,358 shares during the period. Boston Private Wealth LLC’s holdings in Target Corporation were worth $2,824,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC raised its position in Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares in the last quarter. Reilly Financial Advisors LLC raised its position in Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares in the last quarter. Pinnacle Bank bought a new position in Target Corporation during the first quarter worth about $123,000. Peoples Financial Services CORP. raised its position in Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares in the last quarter. 83.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Target Corporation (NYSE:TGT) opened at 53.73 on Tuesday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The stock has a market capitalization of $29.64 billion, a PE ratio of 11.01 and a beta of 0.60. The firm has a 50-day moving average of $54.35 and a 200 day moving average of $60.17.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The business had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same period in the prior year, the business earned $1.29 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Target Corporation will post $4.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.62%. Target Corporation’s dividend payout ratio is currently 48.98%.
A number of equities research analysts have weighed in on TGT shares. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective on the stock in a report on Wednesday, May 10th. Zacks Investment Research raised Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, June 6th. Buckingham Research reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Target Corporation in a report on Wednesday, April 19th. TheStreet lowered Target Corporation from a “b-” rating to a “c+” rating in a report on Monday, March 27th. Finally, ValuEngine lowered Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $62.93.
In related 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 transaction of $137,359.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.
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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