Afam Capital Inc. Cuts Holdings in Target Corporation (TGT)
Afam Capital Inc. lessened its holdings in shares of Target Corporation (NYSE:TGT) by 1.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,863 shares of the retailer’s stock after selling 729 shares during the quarter. Afam Capital Inc.’s holdings in Target Corporation were worth $3,810,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. U S Global Investors Inc. bought a new position in Target Corporation during the second quarter worth about $639,000. Fort Pitt Capital Group LLC bought a new position in Target Corporation during the second quarter worth about $225,000. Dynamic Technology Lab Private Ltd bought a new position in Target Corporation during the second quarter worth about $391,000. Cambridge Financial Group Inc. boosted its position in Target Corporation by 33.6% during the second quarter. Cambridge Financial Group Inc. now owns 101,244 shares of the retailer’s stock worth $5,294,000 after purchasing an additional 25,453 shares during the period. Finally, Verition Fund Management LLC bought a new position in Target Corporation during the second quarter worth about $503,000. Hedge funds and other institutional investors own 83.23% of the company’s stock.
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TGT has been the subject of a number of research reports. Citigroup Inc. lowered shares of Target Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $51.00 to $56.00 in a research report on Wednesday, June 21st. Vetr lowered shares of Target Corporation from a “strong-buy” rating to a “buy” rating and set a $58.97 target price for the company. in a research report on Friday, July 14th. Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of Target Corporation in a research report on Friday, July 14th. BMO Capital Markets increased their target price 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. Finally, Cowen and Company reissued a “market perform” rating and issued a $64.00 price target on shares of Target Corporation in a report on Friday, July 14th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $63.75.
Target Corporation (TGT) opened at 60.19 on Thursday. 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 has a 1-year low of $48.56 and a 1-year high of $79.33. The firm’s 50 day moving average is $58.43 and its 200 day moving average is $55.66.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. On average, equities research analysts anticipate that Target Corporation will post $4.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. Target Corporation’s dividend payout ratio (DPR) is 50.00%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.
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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