Target Co. (TGT) Holdings Trimmed by Carret Asset Management LLC
Carret Asset Management LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,015 shares of the retailer’s stock after selling 2,445 shares during the period. Carret Asset Management LLC’s holdings in Target were worth $4,368,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of TGT. PVG Asset Management Corp bought a new position in Target during the first quarter worth about $1,519,000. Fiduciary Trust Co. lifted its holdings in shares of Target by 67.9% in the first quarter. Fiduciary Trust Co. now owns 17,767 shares of the retailer’s stock valued at $980,000 after purchasing an additional 7,188 shares in the last quarter. Cambria Investment Management L.P. lifted its holdings in shares of Target by 16.5% in the first quarter. Cambria Investment Management L.P. now owns 14,635 shares of the retailer’s stock valued at $808,000 after purchasing an additional 2,069 shares in the last quarter. Gareth Morgan Investments Limited Partnership lifted its holdings in shares of Target by 15.3% in the first quarter. Gareth Morgan Investments Limited Partnership now owns 51,392 shares of the retailer’s stock valued at $2,836,000 after purchasing an additional 6,834 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA lifted its holdings in shares of Target by 40.7% in the first quarter. Security National Bank of Sioux City Iowa IA now owns 13,239 shares of the retailer’s stock valued at $730,000 after purchasing an additional 3,830 shares in the last quarter. Hedge funds and other institutional investors own 87.41% of the company’s stock.
A number of brokerages have recently commented on TGT. BidaskClub lowered Target from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Stifel Nicolaus restated a “hold” rating and issued a $60.00 price target (up from $58.00) on shares of Target in a report on Friday, August 18th. TheStreet upgraded Target from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Gordon Haskett upgraded Target from a “sell” rating to a “hold” rating and boosted their price target for the company from $47.00 to $58.00 in a report on Wednesday, August 16th. Finally, ValuEngine upgraded Target from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $63.25.
Target Co. (NYSE TGT) traded down $1.48 on Thursday, reaching $60.72. The company had a trading volume of 5,562,200 shares, compared to its average volume of 7,432,677. Target Co. has a fifty-two week low of $48.56 and a fifty-two week high of $78.42. The company has a market capitalization of $33,810.22, a price-to-earnings ratio of 12.96, a PEG ratio of 7.69 and a beta of 0.64. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01.
Target (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The business had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. Target’s revenue was up 1.4% on a year-over-year basis. equities research analysts anticipate that Target Co. will post 4.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.08%. Target’s payout ratio is presently 51.88%.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.
Target 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.
Receive News & Ratings for Target Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target Co. and related companies with MarketBeat.com's FREE daily email newsletter.