Cubist Systematic Strategies LLC Buys Shares of 59,297 Target Corporation (TGT)
Cubist Systematic Strategies LLC bought a new position in Target Corporation (NYSE:TGT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 59,297 shares of the retailer’s stock, valued at approximately $3,101,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Parallel Advisors LLC boosted its stake in Target Corporation by 23.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after purchasing an additional 399 shares during the period. Penserra Capital Management LLC boosted its stake in Target Corporation by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after purchasing an additional 204 shares during the period. Davidson Investment Advisors boosted its stake in Target Corporation by 18.5% in the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after purchasing an additional 400 shares during the period. Kistler Tiffany Companies LLC boosted its stake in Target Corporation by 19.1% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after purchasing an additional 445 shares during the period. Finally, Sandy Spring Bank boosted its stake in Target Corporation by 6.7% in the 2nd quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock worth $155,000 after purchasing an additional 185 shares during the period. 83.23% of the stock is owned by hedge funds and other institutional investors.
Target Corporation (TGT) opened at 60.85 on Friday. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The company has a market capitalization of $33.24 billion, a PE ratio of 12.30 and a beta of 0.62. The firm has a 50-day moving average of $57.97 and a 200 day moving average of $55.54.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts forecast that Target Corporation will post $4.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio (DPR) is currently 50.00%.
A number of brokerages recently weighed in on TGT. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price for the company in a research note on Monday, June 19th. BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Target Corporation in a research note on Friday, July 14th. MKM Partners upped their target price on shares of Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $64.00 target price on shares of Target Corporation in a research note on Friday, July 14th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $63.08.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.
Target Corporation Company Profile
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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