Ballentine Partners LLC Buys 112 Shares of Target Corporation (TGT)
Ballentine Partners LLC increased its stake in shares of Target Corporation (NYSE:TGT) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,597 shares of the retailer’s stock after buying an additional 112 shares during the period. Ballentine Partners LLC’s holdings in Target Corporation were worth $309,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC raised its stake in Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock valued at $101,000 after buying an additional 1,016 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock valued at $110,000 after buying an additional 874 shares in the last quarter. Pinnacle Bank bought a new stake in Target Corporation during the first quarter valued at about $123,000. Peoples Financial Services CORP. raised its stake in Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock valued at $125,000 after buying an additional 1,225 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock valued at $129,000 after buying an additional 204 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.
Shares of Target Corporation (NYSE TGT) traded down 0.79% during midday trading on Tuesday, reaching $55.35. The company’s stock had a trading volume of 2,698,136 shares. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The stock’s 50 day moving average price is $54.26 and its 200 day moving average price is $56.29. The firm has a market cap of $30.54 billion, a price-to-earnings ratio of 11.34 and a beta of 0.61.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.30. The business had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 EPS. Analysts predict that Target Corporation will post $4.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Monday, August 14th. Target Corporation’s payout ratio is currently 48.98%.
Several analysts have issued reports on the company. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price target for the company in a report on Monday, June 19th. ValuEngine lowered Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird reissued a “neutral” rating and set a $55.00 price target on shares of Target Corporation in a report on Friday, July 14th. Finally, Cowen and Company reissued a “market perform” rating and set a $64.00 price target on shares of Target Corporation in a report on Friday, July 14th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Target Corporation has an average rating of “Hold” and an average target price of $61.99.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.
About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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