Hyman Charles D Lowers Stake in Target Corporation (NYSE:TGT)
Hyman Charles D decreased its stake in Target Corporation (NYSE:TGT) by 16.2% during the first quarter, Holdings Channel reports. The fund owned 3,800 shares of the retailer’s stock after selling 736 shares during the period. Hyman Charles D’s holdings in Target Corporation were worth $210,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox bought a new position in shares of Target Corporation during the fourth quarter worth $788,237,000. Bank of New York Mellon Corp raised its position in shares of Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares during the last quarter. Norges Bank bought a new position in shares of Target Corporation during the fourth quarter worth $460,220,000. LSV Asset Management raised its position in shares of Target Corporation by 4.7% in the first quarter. LSV Asset Management now owns 5,727,335 shares of the retailer’s stock worth $316,091,000 after buying an additional 259,192 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Target Corporation by 2.6% in the first quarter. Prudential Financial Inc. now owns 2,634,644 shares of the retailer’s stock worth $145,406,000 after buying an additional 66,690 shares during the last quarter. 83.21% of the stock is currently owned by institutional investors and hedge funds.
Target Corporation (TGT) opened at 53.73 on Tuesday. The company has a 50 day moving average of $54.35 and a 200 day moving average of $60.17. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The firm has a market capitalization of $29.64 billion, a P/E ratio of 11.01 and a beta of 0.60.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The company had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same quarter last year, the firm posted $1.29 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Target Corporation will post $4.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be issued a $0.62 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.48 annualized dividend and a yield of 4.62%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio (DPR) is 48.98%.
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A number of research analysts have weighed in on TGT shares. ValuEngine lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 price target (up previously from $56.00) on shares of Target Corporation in a research note on Friday, May 19th. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price target on the stock in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.93.
In related news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.
About Target Corporation
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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