Target Corporation (TGT) Position Cut by Aviance Capital Partners LLC
Aviance Capital Partners LLC lowered its position in shares of Target Corporation (NYSE:TGT) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 18,517 shares of the retailer’s stock after selling 34 shares during the period. Aviance Capital Partners LLC’s holdings in Target Corporation were worth $968,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in TGT. Iowa State Bank boosted its stake in Target Corporation by 3.0% in the first quarter. Iowa State Bank now owns 55,284 shares of the retailer’s stock valued at $3,051,000 after buying an additional 1,600 shares during the last quarter. 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 period. Fox Run Management L.L.C. acquired a new position in Target Corporation during the first quarter valued at about $265,000. Atria Investments LLC raised its position in Target Corporation by 20.2% in the first quarter. Atria Investments LLC now owns 7,760 shares of the retailer’s stock valued at $428,000 after buying an additional 1,305 shares during the period. Finally, Prospera Financial Services Inc raised its position in Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock valued at $442,000 after buying an additional 1,844 shares during the period. Institutional investors own 82.63% of the company’s stock.
Target Corporation (NYSE TGT) traded up 0.02% on Friday, hitting $55.65. 6,022,770 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $54.12 and a 200-day moving average price of $56.47. The stock has a market cap of $30.70 billion, a P/E 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 on Wednesday. Stock investors purchased 13,826 put options on the company. This represents an increase of 188% compared to the average daily volume of 4,793 put options.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. The company had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. Target Corporation’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. Equities analysts predict that Target Corporation will post $4.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be given a $0.62 dividend. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.46%. Target Corporation’s dividend payout ratio (DPR) is currently 48.98%.
Several research analysts recently issued reports on TGT shares. BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Buckingham Research reissued a “buy” rating and set a $71.00 price target on shares of Target Corporation in a research note on Wednesday, April 19th. Vetr cut shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price target on the stock. in a research note on Monday, August 7th. Zacks Investment Research raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Gordon Haskett started coverage on shares of Target Corporation in a research note on Tuesday, May 9th. They set a “sell” rating and a $47.00 price target on the stock. Six 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. The company currently 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 firm’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through 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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