AQR Capital Management LLC Sells 296,044 Shares of Target Corporation (TGT)
AQR Capital Management LLC lowered its stake in shares of Target Corporation (NYSE:TGT) by 40.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 437,689 shares of the retailer’s stock after selling 296,044 shares during the period. AQR Capital Management LLC owned about 0.08% of Target Corporation worth $24,156,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Tompkins Financial Corp raised its position in Target Corporation by 84.0% in the first quarter. Tompkins Financial Corp now owns 1,711 shares of the retailer’s stock valued at $141,000 after buying an additional 781 shares during the last quarter. 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 valued at $101,000 after buying an additional 1,016 shares during 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 valued at $110,000 after buying an additional 874 shares during the last quarter. Pinnacle Bank acquired a new position in Target Corporation during the first quarter valued at $123,000. Finally, 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 valued at $125,000 after buying an additional 1,225 shares during the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.
Target Corporation (NYSE:TGT) traded up 1.62% on Tuesday, reaching $58.82. 2,244,666 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $53.26 and a 200-day moving average of $56.79. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The firm has a market capitalization of $32.45 billion, a price-to-earnings ratio of 12.05 and a beta of 0.61.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $15.63 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. 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. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.28%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio is 48.98%.
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Several research firms recently weighed in on TGT. UBS AG restated a “neutral” rating and set a $56.00 target price (down previously from $60.00) on shares of Target Corporation in a report on Tuesday, June 20th. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price on the stock. in a report on Monday. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday. Robert W. Baird restated a “neutral” rating and set a $55.00 target price on shares of Target Corporation in a report on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 price target on shares of Target Corporation in a research note on Tuesday, June 20th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $61.99.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction on 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 can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.
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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