Hartford Investment Management Co. Sells 39,843 Shares of Target Corporation (NYSE:TGT)
Hartford Investment Management Co. reduced its stake in shares of Target Corporation (NYSE:TGT) by 22.4% during the second quarter, Holdings Channel reports. The fund owned 137,643 shares of the retailer’s stock after selling 39,843 shares during the period. Hartford Investment Management Co.’s holdings in Target Corporation were worth $7,197,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Cribstone Capital Management LLC raised its stake 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 valued at $101,000 after buying an additional 1,016 shares during the last quarter. Reilly Financial Advisors LLC raised its stake 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 valued at $110,000 after buying an additional 874 shares during the last quarter. Pinnacle Bank acquired a new stake in shares of Target Corporation during the first quarter valued at about $123,000. Peoples Financial Services CORP. raised its stake 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 valued at $125,000 after buying an additional 1,225 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake 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 valued at $129,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 82.63% of the company’s stock.
Target Corporation (NYSE TGT) traded up 0.02% during mid-day trading on Friday, reaching $55.65. 6,022,770 shares of the company’s stock were exchanged. The stock has a market cap of $30.70 billion, a price-to-earnings ratio of 11.40 and a beta of 0.61. The company has a 50-day moving average of $54.12 and a 200-day moving average of $56.47. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. Target Corporation also was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 13,826 put options on the company. This represents an increase of approximately 188% compared to the typical volume of 4,793 put options.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $1.29 earnings per share. Equities research analysts anticipate that Target Corporation will post $4.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio (DPR) is currently 48.98%.
Several brokerages have issued reports on TGT. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price target on the stock in a research note on Monday, June 19th. ValuEngine lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Finally, Cowen and Company reiterated a “market perform” rating and issued a $64.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Six investment 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 company currently 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 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company insiders.
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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