Target Corporation (TGT) Position Reduced by Carlton Hofferkamp & Jenks Wealth Management LLC
Carlton Hofferkamp & Jenks Wealth Management LLC decreased its stake in shares of Target Corporation (NYSE:TGT) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 14,090 shares of the retailer’s stock after selling 240 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Target Corporation were worth $736,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after buying an additional 44,877,391 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of 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 worth $568,896,000 after buying an additional 1,279,077 shares in the last quarter. Bank of New York Mellon Corp raised its position 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. Morgan Stanley raised its position in shares of Target Corporation by 1.6% in the first quarter. Morgan Stanley now owns 6,716,718 shares of the retailer’s stock worth $370,696,000 after buying an additional 107,163 shares in the last quarter. Finally, Geode Capital Management LLC raised its position 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. 82.59% of the stock is currently owned by institutional investors.
Shares of Target Corporation (NYSE:TGT) traded down 0.84% during mid-day trading on Friday, reaching $55.65. The company’s stock had a trading volume of 4,738,485 shares. The firm has a market capitalization of $30.40 billion, a PE ratio of 11.24 and a beta of 0.61. The firm has a 50-day moving average of $54.68 and a 200-day moving average of $56.16. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33.
Target Corporation (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $16.43 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $1.23 EPS. Equities research analysts forecast that Target Corporation will post $4.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given 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 4.46%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio is presently 50.00%.
A number of brokerages have recently commented on TGT. Gordon Haskett began coverage on Target Corporation in a research note on Tuesday, May 9th. They issued a “sell” rating and a $47.00 target price on the stock. Vetr downgraded Target Corporation from a “buy” rating to a “hold” rating and set a $59.51 target price on the stock. in a research note on Tuesday, May 9th. Zacks Investment Research upgraded Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Telsey Advisory Group upped their target price on Target Corporation from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Thursday, May 18th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $59.00 target price (up previously from $55.00) on shares of Target Corporation in a research note on Friday, May 19th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the company. Target Corporation has an average rating of “Hold” and an average target price of $61.64.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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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