National Planning Corp Acquires 1,645 Shares of Target Corp. (TGT)
National Planning Corp raised its position in shares of Target Corp. (NYSE:TGT) by 19.7% during the second quarter, Holdings Channel reports. The institutional investor owned 10,007 shares of the retailer’s stock after buying an additional 1,645 shares during the period. National Planning Corp’s holdings in Target Corp. were worth $739,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Ropes Wealth Advisors LLC raised its position in Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock worth $107,000 after buying an additional 127 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock worth $119,000 after buying an additional 500 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in Target Corp. during the first quarter worth about $165,000. Duncker Streett & Co. Inc. raised its position in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock worth $165,000 after buying an additional 100 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its position in Target Corp. by 25.5% in the second quarter. Joel Isaacson & Co. LLC now owns 2,401 shares of the retailer’s stock worth $168,000 after buying an additional 488 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.
Target Corp. (NYSE:TGT) traded up 0.60% during mid-day trading on Wednesday, reaching $69.03. 723,504 shares of the company’s stock traded hands. The stock has a market cap of $39.68 billion, a P/E ratio of 12.77 and a beta of 0.68. The firm has a 50-day moving average price of $71.38 and a 200-day moving average price of $74.58. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14.
Target Corp. (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.11. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The business had revenue of $16.20 billion for the quarter. During the same period in the previous year, the business earned $1.22 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year. Equities research analysts anticipate that Target Corp. will post $4.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.50%. Target Corp.’s payout ratio is 44.44%.
TGT has been the subject of a number of analyst reports. Morgan Stanley reissued an “underweight” rating on shares of Target Corp. in a research note on Wednesday, May 25th. Vetr lowered shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $75.66 target price for the company. in a research note on Tuesday, May 31st. BMO Capital Markets reissued a “market perform” rating and set a $76.00 target price on shares of Target Corp. in a research note on Wednesday, July 6th. Argus reissued a “hold” rating on shares of Target Corp. in a research note on Thursday, July 7th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $86.00 target price on shares of Target Corp. in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. Target Corp. presently has an average rating of “Hold” and a consensus price target of $77.12.
Target Corp. Company Profile
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
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