Unigestion Holding SA cut its holdings in shares of Target Co. (NYSE:TGT – Get Rating) by 70.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,983 shares of the retailer’s stock after selling 260,969 shares during the period. Unigestion Holding SA’s holdings in Target were worth $24,992,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. FDx Advisors Inc. increased its position in shares of Target by 12.9% during the fourth quarter. FDx Advisors Inc. now owns 22,374 shares of the retailer’s stock worth $5,178,000 after purchasing an additional 2,549 shares in the last quarter. Dana Investment Advisors Inc. grew its holdings in shares of Target by 46.7% during the third quarter. Dana Investment Advisors Inc. now owns 128,564 shares of the retailer’s stock valued at $29,412,000 after buying an additional 40,953 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Target by 59.9% during the third quarter. Wealthspire Advisors LLC now owns 13,562 shares of the retailer’s stock valued at $3,103,000 after buying an additional 5,078 shares during the last quarter. London Co. of Virginia grew its holdings in shares of Target by 2.6% during the third quarter. London Co. of Virginia now owns 1,694,201 shares of the retailer’s stock valued at $387,582,000 after buying an additional 42,365 shares during the last quarter. Finally, Strategy Asset Managers LLC grew its holdings in shares of Target by 10.5% during the third quarter. Strategy Asset Managers LLC now owns 34,259 shares of the retailer’s stock valued at $7,838,000 after buying an additional 3,244 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors and hedge funds.
TGT has been the topic of a number of research analyst reports. Guggenheim dropped their price objective on shares of Target to $225.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. Telsey Advisory Group dropped their price objective on shares of Target from $305.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. UBS Group dropped their price objective on shares of Target to $225.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. Credit Suisse Group lowered their price target on shares of Target from $286.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Evercore ISI began coverage on shares of Target in a report on Friday, February 25th. They issued a “hold” rating and a $235.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $217.72.
Target (NYSE:TGT – Get Rating) last released its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.88). Target had a return on equity of 44.75% and a net margin of 5.48%. The company had revenue of $24.83 billion for the quarter, compared to analyst estimates of $24.48 billion. During the same quarter last year, the company earned $3.69 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts anticipate that Target Co. will post 14.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Wednesday, May 18th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, May 17th. This represents a $3.60 annualized dividend and a dividend yield of 2.21%. Target’s dividend payout ratio (DPR) is presently 29.85%.
In other Target news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $216.35, for a total value of $6,490,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cara A. Sylvester sold 2,030 shares of the stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total transaction of $507,500.00. Following the completion of the sale, the insider now owns 7,891 shares of the company’s stock, valued at approximately $1,972,750. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,363 shares of company stock valued at $21,970,253. 0.29% of the stock is owned by insiders.
Target Company Profile (Get Rating)
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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