Target Corporation (TGT) Position Lowered by Catawba Capital Management VA
Catawba Capital Management VA cut its stake in shares of Target Corporation (NYSE:TGT) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 85,697 shares of the retailer’s stock after selling 1,829 shares during the period. Catawba Capital Management VA’s holdings in Target Corporation were worth $4,481,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cribstone Capital Management LLC boosted 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 period. Reilly Financial Advisors LLC boosted 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 period. Pinnacle Bank bought a new position in Target Corporation during the first quarter valued at about $123,000. Peoples Financial Services CORP. boosted 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 period. Finally, Penserra Capital Management LLC boosted its position in 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 period. Institutional investors and hedge funds own 82.59% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) traded down 0.009% on Friday, hitting $56.115. 1,813,173 shares of the stock traded hands. The firm has a market capitalization of $30.65 billion, a PE ratio of 11.339 and a beta of 0.61. The firm’s 50 day moving average is $54.58 and its 200 day moving average is $56.22. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. On average, analysts expect that Target Corporation will post $4.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.42%. 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 payout ratio is currently 50.00%.
Several research analysts have recently issued reports on the stock. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price objective for the company in a report on Monday, June 19th. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price objective on shares of Target Corporation in a report on Friday, July 14th. Finally, MKM Partners increased their price objective on shares of Target Corporation to $69.00 and gave the company a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $61.56.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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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