Target Corporation (TGT) Shares Sold by Employees Retirement System of Texas
Employees Retirement System of Texas decreased its stake in shares of Target Corporation (NYSE:TGT) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,000 shares of the retailer’s stock after selling 1,000 shares during the period. Employees Retirement System of Texas’ holdings in Target Corporation were worth $1,778,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of TGT. Allegis Investment Advisors LLC increased its position in Target Corporation by 1.2% during the first quarter. Allegis Investment Advisors LLC now owns 8,244 shares of the retailer’s stock worth $455,000 after purchasing an additional 100 shares during the last quarter. Karp Capital Management Corp acquired a new position in Target Corporation during the first quarter worth approximately $14,701,000. TD Asset Management Inc. increased its position in Target Corporation by 12.7% during the first quarter. TD Asset Management Inc. now owns 492,201 shares of the retailer’s stock worth $27,165,000 after purchasing an additional 55,634 shares during the last quarter. Tdam USA Inc. increased its position in Target Corporation by 42.8% during the first quarter. Tdam USA Inc. now owns 14,201 shares of the retailer’s stock worth $784,000 after purchasing an additional 4,258 shares during the last quarter. Finally, Flippin Bruce & Porter Inc. increased its position in Target Corporation by 41.9% during the first quarter. Flippin Bruce & Porter Inc. now owns 141,615 shares of the retailer’s stock worth $7,816,000 after purchasing an additional 41,835 shares during the last quarter. 83.23% of the stock is owned by hedge funds and other institutional investors.
TGT has been the subject of several recent research reports. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price objective for the company in a research report on Monday, June 19th. BMO Capital Markets increased their price objective on shares of Target Corporation from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Friday, July 14th. Citigroup Inc. lowered shares of Target Corporation from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $56.00 in a research report on Wednesday, June 21st. BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Cowen and Company reissued a “market perform” rating and issued a $64.00 price objective on shares of Target Corporation in a research report on Friday, July 14th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.08.
Target Corporation (TGT) opened at 60.19 on Friday. The stock has a 50 day moving average of $57.78 and a 200 day moving average of $55.48. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The stock has a market capitalization of $32.88 billion, a P/E ratio of 12.16 and a beta of 0.62.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the Zacks’ 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 company had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio is 50.00%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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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