Associated Banc Corp Invests $229,000 in Target Co. (TGT)
Associated Banc Corp purchased a new stake in shares of Target Co. (NYSE:TGT) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,504 shares of the retailer’s stock, valued at approximately $229,000.
Other institutional investors also recently bought and sold shares of the company. Bedell Frazier Investment Counseling LLC purchased a new position in shares of Target during the 3rd quarter valued at $219,000. Security Asset Management purchased a new position in shares of Target during the 4th quarter valued at $115,000. Heritage Trust Co boosted its holdings in Target by 129.7% in the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after purchasing an additional 1,000 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Target in the fourth quarter worth $124,000. Finally, SevenBridge Financial Group LLC boosted its holdings in Target by 2,200.0% in the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after purchasing an additional 1,826 shares in the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.
A number of equities research analysts recently issued reports on TGT shares. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a report on Tuesday. Moffett Nathanson started coverage on shares of Target in a report on Monday, December 4th. They issued a “neutral” rating for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of Target in a report on Thursday, January 11th. Telsey Advisory Group upped their price objective on shares of Target from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Finally, Vetr cut shares of Target from a “hold” rating to a “sell” rating and set a $70.45 price objective for the company. in a report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Target currently has a consensus rating of “Hold” and a consensus target price of $67.64.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. The business had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share. equities analysts expect that Target Co. will post 4.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s dividend payout ratio is currently 52.10%.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The disclosure for this sale can be found here. Insiders have sold 16,262 shares of company stock valued at $1,185,484 in the last ninety days. 0.20% of the stock is owned by company insiders.
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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