21,374 Shares in Target Corporation (TGT) Acquired by LMR Partners LLP
LMR Partners LLP acquired a new position in Target Corporation (NYSE:TGT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,374 shares of the retailer’s stock, valued at approximately $1,180,000.
Several other hedge funds have also recently modified their holdings of TGT. Numeric Investors LLC boosted its position in Target Corporation by 2,710.9% in the fourth quarter. Numeric Investors LLC now owns 129,300 shares of the retailer’s stock valued at $9,339,000 after buying an additional 124,700 shares during the last quarter. PagnatoKarp Partners LLC bought a new position in Target Corporation during the fourth quarter valued at approximately $328,000. Thrivent Financial for Lutherans boosted its position in Target Corporation by 98.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 37,610 shares of the retailer’s stock valued at $2,717,000 after buying an additional 18,704 shares during the last quarter. IFM Investors Pty Ltd bought a new position in Target Corporation during the fourth quarter valued at approximately $516,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Target Corporation during the fourth quarter valued at approximately $1,914,000. Institutional investors and hedge funds own 83.21% of the company’s stock.
Target Corporation (TGT) opened at 53.73 on Wednesday. Target Corporation has a 52-week low of $48.56 and a 52-week 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. The firm’s 50-day moving average is $53.31 and its 200-day moving average is $57.89.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.30. The company had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. On average, equities analysts expect that Target Corporation will post $4.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s payout ratio is 48.98%.
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Several equities analysts recently commented on TGT shares. Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Tuesday, June 6th. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 target price for the company in a research note on Wednesday, May 10th. Buckingham Research reiterated a “buy” rating and set a $71.00 target price on shares of Target Corporation in a research note on Wednesday, April 19th. TheStreet cut shares of Target Corporation from a “b-” rating to a “c+” rating in a research note on Monday, March 27th. Finally, ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $62.93.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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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