NewSquare Capital LLC Purchases 632 Shares of Target Co. (TGT)
NewSquare Capital LLC lifted its position in shares of Target Co. (NYSE:TGT) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,031 shares of the retailer’s stock after acquiring an additional 632 shares during the period. NewSquare Capital LLC’s holdings in Target were worth $2,208,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Target by 5.3% during the second 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 during the last quarter. LSV Asset Management grew its position in Target by 1.2% in the 2nd quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock valued at $570,620,000 after buying an additional 90,489 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Target by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,266,772 shares of the retailer’s stock valued at $324,768,000 after buying an additional 106,616 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Target by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,908,902 shares of the retailer’s stock valued at $297,546,000 after buying an additional 34,470 shares in the last quarter. Finally, Swedbank bought a new position in Target in the 3rd quarter valued at about $198,324,000. Institutional investors and hedge funds own 83.59% of the company’s stock.
Shares of NYSE:TGT traded down $1.43 during trading hours on Friday, hitting $81.93. 610,592 shares of the company’s stock traded hands, compared to its average volume of 4,097,645. Target Co. has a 52 week low of $54.04 and a 52 week high of $90.39. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 1.09. The firm has a market cap of $44.43 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.56 annualized dividend and a dividend yield of 3.12%. Target’s dividend payout ratio (DPR) is 54.35%.
In other Target news, insider Janna A. Potts sold 15,172 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $88.00, for a total transaction of $1,335,136.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie A. Lundquist sold 2,100 shares of the company’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
A number of brokerages recently issued reports on TGT. Bank of America set a $90.00 target price on shares of Target and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Citigroup increased their target price on shares of Target from $76.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday, August 27th. Credit Suisse Group set a $86.00 target price on shares of Target and gave the company a “hold” rating in a research report on Saturday, August 25th. Deutsche Bank set a $90.00 target price on shares of Target and gave the company a “hold” rating in a research report on Saturday, August 25th. Finally, BMO Capital Markets began coverage on shares of Target in a research report on Monday, September 17th. They issued a “market perform” rating and a $88.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $87.68.
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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