Blue Chip Partners Inc. Has $3.86 Million Position in Target Corporation (TGT)
Blue Chip Partners Inc. increased its stake in Target Corporation (NYSE:TGT) by 18.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 73,810 shares of the retailer’s stock after purchasing an additional 11,294 shares during the quarter. Target Corporation makes up 1.3% of Blue Chip Partners Inc.’s investment portfolio, making the stock its 27th largest holding. Blue Chip Partners Inc.’s holdings in Target Corporation were worth $3,860,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of TGT. BlackRock Inc. lifted its holdings in Target Corporation by 2,069.0% in the 1st quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after purchasing an additional 44,877,391 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Target Corporation by 14.2% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock worth $568,896,000 after purchasing an additional 1,279,077 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Target Corporation by 11.6% in the 1st quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after purchasing an additional 996,689 shares during the last quarter. Smead Capital Management Inc. acquired a new stake in Target Corporation in the 2nd quarter worth approximately $41,667,000. Finally, Hexavest Inc. acquired a new stake in Target Corporation in the 2nd quarter worth approximately $41,629,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.
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Several equities research analysts recently weighed in on the company. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price for the company in a report on Monday, June 19th. ValuEngine downgraded Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Target Corporation in a research report on Friday, July 14th. Finally, MKM Partners lifted their price target on Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.64.
Target Corporation (TGT) opened at 59.46 on Friday. The firm has a market cap of $32.48 billion, a price-to-earnings ratio of 12.01 and a beta of 0.60. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The stock’s 50 day moving average price is $56.55 and its 200 day moving average price is $55.08.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The company had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same quarter last year, the business posted $1.23 EPS. Target Corporation’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Target Corporation will post $4.51 EPS for the current year.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company 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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