Target Corporation (TGT) Stake Boosted by Hennessy Advisors Inc.
Hennessy Advisors Inc. grew its position in shares of Target Corporation (NYSE:TGT) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,600 shares of the retailer’s stock after acquiring an additional 1,100 shares during the period. Hennessy Advisors Inc.’s holdings in Target Corporation were worth $6,467,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of TGT. BlackRock Inc. raised its stake in shares of Target Corporation by 2,069.0% during the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after acquiring an additional 44,877,391 shares during the last quarter. Dodge & Cox raised its stake in shares of Target Corporation by 83.3% during the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after acquiring an additional 9,102,526 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Target Corporation during the second quarter valued at about $235,305,000. Franklin Resources Inc. raised its stake in shares of Target Corporation by 8.7% during the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after acquiring an additional 1,686,774 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Target Corporation by 45.1% during the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after acquiring an additional 1,629,222 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Target Corporation (NYSE TGT) traded up $1.50 during midday trading on Friday, hitting $61.40. 6,787,773 shares of the stock traded hands, compared to its average volume of 5,563,349. The company has a market capitalization of $32,719.29, a P/E ratio of 12.15, a PEG ratio of 2.83 and a beta of 0.63. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The company has a current ratio of 0.91, a quick ratio of 0.26 and a debt-to-equity ratio of 0.98.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. equities research analysts forecast that Target Corporation will post 4.51 earnings per share for the current year.
The business 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. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.04%. Target Corporation’s dividend payout ratio (DPR) is 50.00%.
Several brokerages have recently commented on TGT. Wells Fargo & Company began coverage on shares of Target Corporation in a research note on Friday, November 3rd. They set a “market perform” rating and a $62.00 price objective for the company. Zacks Investment Research downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Stifel Nicolaus set a $60.00 price objective on shares of Target Corporation and gave the company a “hold” rating in a research note on Wednesday, October 18th. MKM Partners assumed coverage on shares of Target Corporation in a research note on Wednesday, October 18th. They set a “buy” rating and a $85.00 price objective for the company. Finally, TheStreet upgraded shares of Target Corporation from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.68.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction that occurred on 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 is available at the SEC website. 0.25% of the stock is owned by corporate insiders.
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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