Paloma Partners Management Co Has $2.24 Million Position in Target Co. (TGT)
Paloma Partners Management Co increased its stake in shares of Target Co. (NYSE:TGT) by 777.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,487 shares of the retailer’s stock after purchasing an additional 33,837 shares during the quarter. Paloma Partners Management Co’s holdings in Target were worth $2,244,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. BlackRock Inc. boosted its position in shares of Target by 5.3% during the 2nd quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock worth $3,255,697,000 after acquiring an additional 2,161,982 shares in the last quarter. LSV Asset Management boosted its position in shares of Target by 1.2% during the 2nd quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock worth $570,620,000 after acquiring an additional 90,489 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Target by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,266,772 shares of the retailer’s stock worth $324,768,000 after acquiring an additional 106,616 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Target by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,908,902 shares of the retailer’s stock worth $297,546,000 after acquiring an additional 34,470 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Target by 3.1% during the 2nd quarter. Swiss National Bank now owns 1,708,417 shares of the retailer’s stock worth $130,045,000 after acquiring an additional 51,100 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on TGT shares. Gordon Haskett raised Target from a “hold” rating to an “accumulate” rating in a research report on Wednesday, July 25th. Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Tuesday, August 7th. ValuEngine raised Target from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. MKM Partners set a $91.00 price objective on Target and gave the stock a “buy” rating in a research report on Friday, June 29th. Finally, Credit Suisse Group set a $86.00 price objective on Target and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $87.67.
Target (NYSE:TGT) last announced its earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.07. The firm had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. research analysts forecast that Target Co. will post 5.37 earnings per share for the current fiscal year.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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