Hayek Kallen Investment Management Lowers Stake in Target Corporation (TGT)
Hayek Kallen Investment Management reduced its stake in shares of Target Corporation (NYSE:TGT) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,078 shares of the retailer’s stock after selling 2,034 shares during the period. Hayek Kallen Investment Management’s holdings in Target Corporation were worth $1,573,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of TGT. Parallel Advisors LLC lifted its stake in shares of Target Corporation by 23.8% during the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after buying an additional 399 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Target Corporation by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares during the period. Davidson Investment Advisors lifted its stake in shares of Target Corporation by 18.5% during the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after buying an additional 400 shares during the period. Kistler Tiffany Companies LLC lifted its stake in shares of Target Corporation by 19.1% during the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after buying an additional 445 shares during the period. Finally, Washington Trust Bank lifted its stake in shares of Target Corporation by 105.6% during the second quarter. Washington Trust Bank now owns 3,067 shares of the retailer’s stock worth $160,000 after buying an additional 1,575 shares during the period. Institutional investors and hedge funds own 83.22% of the company’s stock.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert M. Harrison sold 2,639 shares of the firm’s 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 disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.
Several research firms have recently commented on TGT. BMO Capital Markets reiterated a “market weight” rating on shares of Target Corporation in a research note on Thursday, September 14th. Vetr downgraded shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price objective for the company. in a research note on Monday, August 7th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. MKM Partners lifted their price objective on shares of Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, ValuEngine downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.64.
Shares of Target Corporation (NYSE:TGT) opened at 59.09 on Tuesday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The stock has a market cap of $32.28 billion, a PE ratio of 11.94 and a beta of 0.60. The stock’s 50 day moving average is $56.74 and its 200-day moving average is $54.99.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter last year, the business earned $1.23 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that Target Corporation will post $4.51 EPS for the current fiscal year.
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About Target Corporation
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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