PGGM Investments Has $55.01 Million Holdings in Target Corporation (TGT)
PGGM Investments decreased its stake in Target Corporation (NYSE:TGT) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 932,282 shares of the retailer’s stock after selling 49,172 shares during the quarter. PGGM Investments owned approximately 0.17% of Target Corporation worth $55,014,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quantitative Systematic Strategies LLC purchased a new stake in Target Corporation in the third quarter worth about $690,000. Fulton Bank N.A. increased its position in Target Corporation by 43.2% in the third quarter. Fulton Bank N.A. now owns 7,795 shares of the retailer’s stock worth $460,000 after buying an additional 2,352 shares in the last quarter. Curbstone Financial Management Corp increased its position in Target Corporation by 108.0% in the third quarter. Curbstone Financial Management Corp now owns 15,158 shares of the retailer’s stock worth $894,000 after buying an additional 7,870 shares in the last quarter. Park National Corp OH increased its position in Target Corporation by 3.9% in the third quarter. Park National Corp OH now owns 418,243 shares of the retailer’s stock worth $24,680,000 after buying an additional 15,801 shares in the last quarter. Finally, Intl Fcstone Inc. purchased a new stake in Target Corporation in the second quarter worth about $291,000. Institutional investors and hedge funds own 83.23% of the company’s stock.
A number of analysts have commented on the company. Vetr cut Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.28 price target for the company. in a research report on Thursday, July 20th. BMO Capital Markets restated a “market perform” rating and issued a $67.00 price target (up previously from $62.00) on shares of Target Corporation in a research report on Friday, August 18th. Stifel Nicolaus restated a “hold” rating and issued a $60.00 price target (up previously from $58.00) on shares of Target Corporation in a research report on Friday, August 18th. Gordon Haskett upgraded Target Corporation from a “sell” rating to a “hold” rating and upped their price target for the stock from $47.00 to $58.00 in a research report on Wednesday, August 16th. Finally, MKM Partners restated a “neutral” rating on shares of Target Corporation in a research report on Tuesday, August 15th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. Target Corporation presently has an average rating of “Hold” and a consensus price target of $63.75.
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Shares of Target Corporation (TGT) traded up 2.20% during midday trading on Friday, reaching $61.76. The company’s stock had a trading volume of 6,053,790 shares. The stock’s 50 day moving average price is $58.82 and its 200 day moving average price is $55.75. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The firm has a market cap of $33.74 billion, a price-to-earnings ratio of 12.48 and a beta of 0.62.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share 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 business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. Analysts predict that Target Corporation will post $4.51 earnings per share for the current year.
The business also recently announced 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. This represents a $2.48 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio is currently 50.00%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’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 this link. Insiders own 0.25% of the company’s stock.
Target Corporation 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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