13,977 Shares in Target Corporation (TGT) Purchased by Sciencast Management LP
Sciencast Management LP bought a new position in shares of Target Corporation (NYSE:TGT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,977 shares of the retailer’s stock, valued at approximately $731,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TGT. BlackRock Inc. raised its stake in Target Corporation by 2,069.0% during 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 during the last quarter. Dodge & Cox raised its stake in Target Corporation by 83.3% during the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after buying an additional 9,102,526 shares during the last quarter. Capital Research Global Investors bought a new position in Target Corporation during the second quarter worth $235,305,000. Franklin Resources Inc. raised its stake in Target Corporation by 8.7% during the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after buying an additional 1,686,774 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Target Corporation by 14.2% during 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 during the last quarter. 83.23% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on TGT. UBS AG reissued a “neutral” rating and set a $56.00 target price (down previously from $60.00) on shares of Target Corporation in a research note on Tuesday, June 20th. BidaskClub downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. TheStreet raised shares of Target Corporation from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. 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 note on Monday, August 7th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $60.00 target price (up previously from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. 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 stock presently has an average rating of “Hold” and a consensus target price of $63.08.
Target Corporation (NYSE TGT) opened at 60.85 on Friday. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock has a market capitalization of $33.24 billion, a PE ratio of 12.30 and a beta of 0.62. The company’s 50-day moving average is $57.97 and its 200 day moving average is $55.54.
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 company had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same period in the prior year, the firm 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 expect that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio (DPR) is 50.00%.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.
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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