Bragg Financial Advisors Inc Boosts Position in Target Corporation (TGT)
Bragg Financial Advisors Inc raised its position in Target Corporation (NYSE:TGT) by 14.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 29,162 shares of the retailer’s stock after buying an additional 3,785 shares during the period. Bragg Financial Advisors Inc’s holdings in Target Corporation were worth $1,068,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of TGT. Cribstone Capital Management LLC boosted its position in shares of 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 during the last quarter. Reilly Financial Advisors LLC boosted its position in shares of 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 during the last quarter. Pinnacle Bank acquired a new position in shares of Target Corporation during the first quarter worth approximately $123,000. Peoples Financial Services CORP. boosted its position in shares of 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 during the last quarter. Finally, Penserra Capital Management LLC boosted its position in shares of 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 during the last quarter. Institutional investors own 82.63% of the company’s stock.
Target Corporation (NYSE:TGT) traded up 0.02% during trading on Friday, hitting $55.65. 6,022,770 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $54.12 and its 200 day moving average price is $56.47. The firm has a market cap of $30.70 billion, a price-to-earnings ratio of 11.40 and a beta of 0.61. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. Target Corporation also saw unusually large options trading activity on Wednesday. Investors purchased 13,826 put options on the stock. This is an increase of approximately 188% compared to the typical daily volume of 4,793 put options.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.30. The firm had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. Equities analysts forecast that Target Corporation will post $4.39 earnings per share for the current fiscal 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 given a dividend of $0.62 per share. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.46%. Target Corporation’s payout ratio is presently 48.98%.
A number of brokerages recently commented on TGT. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price on the stock in a research report on Monday, June 19th. ValuEngine lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a report on Friday, July 14th. Finally, Cowen and Company reissued a “market perform” rating and issued a $64.00 price target on shares of Target Corporation in a report on Friday, July 14th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $61.99.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.25% 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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