Wesbanco Bank Inc. Decreases Position in Target Corporation (TGT)
Wesbanco Bank Inc. cut its holdings in shares of Target Corporation (NYSE:TGT) by 15.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,140 shares of the retailer’s stock after selling 948 shares during the period. Wesbanco Bank Inc.’s holdings in Target Corporation were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. Verity & Verity LLC lifted its position in Target Corporation by 41.7% during the first quarter. Verity & Verity LLC now owns 21,199 shares of the retailer’s stock valued at $1,170,000 after purchasing an additional 6,236 shares during the period. Exane Derivatives acquired a new position in Target Corporation during the first quarter valued at $296,000. North Star Investment Management Corp. lifted its position in Target Corporation by 0.9% during the first quarter. North Star Investment Management Corp. now owns 16,285 shares of the retailer’s stock valued at $899,000 after purchasing an additional 148 shares during the period. Tufton Capital Management lifted its position in Target Corporation by 10.5% during the first quarter. Tufton Capital Management now owns 159,956 shares of the retailer’s stock valued at $8,828,000 after purchasing an additional 15,137 shares during the period. Finally, Rockefeller Financial Services Inc. lifted its position in Target Corporation by 28.5% during the first quarter. Rockefeller Financial Services Inc. now owns 20,207 shares of the retailer’s stock valued at $1,115,000 after purchasing an additional 4,477 shares during the period. Institutional investors own 83.22% of the company’s stock.
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A number of research firms recently issued reports on TGT. BMO Capital Markets restated a “market weight” rating on shares of Target Corporation in a research report on Thursday, September 14th. Vetr downgraded shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price for the company. in a research report on Monday, August 7th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. MKM Partners upped their price objective on shares of Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, ValuEngine downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Target Corporation presently has a consensus rating of “Hold” and a consensus price target of $61.64.
In other news, insider Robert M. Harrison sold 2,639 shares of Target Corporation 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
Shares of Target Corporation (TGT) opened at 59.35 on Wednesday. The company’s 50-day moving average is $56.82 and its 200 day moving average is $55.00. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The stock has a market cap of $32.42 billion, a PE ratio of 11.99 and a beta of 0.60. Target Corporation also was the recipient of some unusual options trading activity on Monday. Traders acquired 11,895 put options on the stock. This represents an increase of 113% compared to the average daily volume of 5,575 put options.
Target Corporation (NYSE:TGT) last posted its earnings results 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 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 the consensus estimate of $16.30 billion. During the same period last year, the firm posted $1.23 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts forecast that Target Corporation will post $4.51 earnings per share for the current fiscal year.
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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