Sii Investments Inc. WI Lowers Position in Target Corp. (TGT)
Sii Investments Inc. WI reduced its stake in Target Corp. (NYSE:TGT) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 31,552 shares of the retailer’s stock after selling 1,333 shares during the period. Sii Investments Inc. WI’s holdings in Target Corp. were worth $2,199,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Ropes Wealth Advisors LLC increased its stake in Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock valued at $107,000 after buying an additional 127 shares in the last quarter. Arcadia Investment Management Corp MI increased its stake 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 valued at $119,000 after buying an additional 500 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Target Corp. during the first quarter valued at about $165,000. Duncker Streett & Co. Inc. increased its stake in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock valued at $165,000 after buying an additional 100 shares in the last quarter. Finally, Joel Isaacson & Co. LLC increased its stake in Target Corp. by 25.5% in the second quarter. Joel Isaacson & Co. LLC now owns 2,401 shares of the retailer’s stock valued at $168,000 after buying an additional 488 shares in the last quarter. 86.19% of the stock is owned by institutional investors.
Target Corp. (NYSE:TGT) traded up 0.60% on Wednesday, reaching $69.03. 723,504 shares of the company traded hands. The stock has a market capitalization of $39.68 billion, a PE ratio of 12.77 and a beta of 0.68. Target Corp. has a one year low of $65.50 and a one year high of $84.14. The firm has a 50 day moving average of $71.38 and a 200-day moving average of $74.58.
Target Corp. (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. The business earned $16.20 billion during the quarter. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. On average, analysts anticipate that Target Corp. will post $4.96 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.50%. Target Corp.’s dividend payout ratio (DPR) is presently 44.44%.
TGT has been the subject of several recent analyst reports. Piper Jaffray Cos. reaffirmed an “outperform” rating and set a $86.00 price objective on shares of Target Corp. in a report on Monday, July 25th. Vetr raised shares of Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 price objective for the company in a report on Monday, July 4th. Barclays PLC reaffirmed an “underweight” rating and set a $60.00 price objective on shares of Target Corp. in a report on Friday, September 16th. Zacks Investment Research downgraded shares of Target Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Target Corp. in a report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. Target Corp. currently has a consensus rating of “Hold” and a consensus price target of $77.12.
About Target Corp.
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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