Glenmede Trust Co. NA Holds Stake in Target Corporation (TGT)
Glenmede Trust Co. NA held its position in Target Corporation (NYSE:TGT) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 302,928 shares of the retailer’s stock at the end of the first quarter. Glenmede Trust Co. NA owned 0.05% of Target Corporation worth $21,879,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock valued at $568,896,000 after buying an additional 1,279,077 shares during the period. Bank of New York Mellon Corp raised its stake 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 in the last quarter. Schroder Investment Management Group raised its stake in shares of Target Corporation by 112.5% in the first quarter. Schroder Investment Management Group now owns 1,126,610 shares of the retailer’s stock worth $62,245,000 after buying an additional 596,551 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Target Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 6,035,990 shares of the retailer’s stock worth $332,703,000 after buying an additional 494,836 shares in the last quarter. Institutional investors own 82.63% of the company’s stock.
Target Corporation (TGT) traded up 1.59% during trading on Tuesday, hitting $58.80. 2,245,425 shares of the company traded hands. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The company has a market capitalization of $32.44 billion, a P/E ratio of 12.05 and a beta of 0.61. The stock has a 50 day moving average price of $53.26 and a 200 day moving average price of $56.79.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. During the same period in the previous year, the business posted $1.29 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities 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 paid a $0.62 dividend. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s payout ratio is currently 48.98%.
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TGT has been the topic of a number of research reports. BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday. Buckingham Research reissued a “buy” rating and issued a $71.00 price objective on shares of Target Corporation in a research report on Wednesday, April 19th. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price objective on the stock. in a research report on Monday. Zacks Investment Research raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Gordon Haskett initiated coverage on shares of Target Corporation in a research report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.99.
In related 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 value of $137,359.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.
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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