Daiwa Securities Group Inc. Has $1.77 Million Holdings in Target Corporation (TGT)
Daiwa Securities Group Inc. lessened its stake in Target Corporation (NYSE:TGT) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,057 shares of the retailer’s stock after selling 11,593 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Target Corporation were worth $1,774,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC purchased a new position in Target Corporation in the 3rd quarter worth approximately $554,000. CAPROCK Group Inc. purchased a new position in Target Corporation in the 3rd quarter worth approximately $832,000. Boston Private Wealth LLC boosted its holdings in Target Corporation by 4.5% in the 2nd quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock worth $2,795,000 after acquiring an additional 2,285 shares during the period. Conning Inc. boosted its holdings in Target Corporation by 2.1% in the 2nd quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock worth $27,323,000 after acquiring an additional 10,966 shares during the period. Finally, Patten & Patten Inc. TN purchased a new position in Target Corporation in the 2nd quarter worth approximately $234,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.
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In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on TGT shares. TheStreet upgraded Target Corporation from a “c+” rating to a “b” rating in a report on Thursday, September 28th. MKM Partners upped their price target on Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 price target for the company in a report on Monday, August 14th. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Finally, Zacks Investment Research upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday, October 10th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $63.68.
Shares of Target Corporation (NYSE:TGT) opened at $61.40 on Friday. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The company has a quick ratio of 0.26, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $33,538.64, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 2.90 and a beta of 0.63.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same period last year, the company earned $1.23 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. equities analysts anticipate 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 issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio (DPR) is 50.00%.
Target Corporation 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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