EP Wealth Advisors LLC Lowers Holdings in Target Co. (NYSE:TGT)
EP Wealth Advisors LLC lessened its stake in Target Co. (NYSE:TGT) by 12.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,902 shares of the retailer’s stock after selling 7,148 shares during the period. EP Wealth Advisors LLC’s holdings in Target were worth $3,925,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Target by 3.2% during the 4th quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock worth $2,856,544,000 after purchasing an additional 1,334,425 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Target by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock valued at $3,381,221,000 after purchasing an additional 151,096 shares in the last quarter. LSV Asset Management boosted its stake in Target by 2.4% during the first quarter. LSV Asset Management now owns 7,391,837 shares of the retailer’s stock worth $593,268,000 after acquiring an additional 171,019 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Target by 1.3% during the fourth quarter. Northern Trust Corp now owns 7,095,898 shares of the retailer’s stock valued at $468,967,000 after purchasing an additional 89,876 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Target by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock worth $460,727,000 after acquiring an additional 381,831 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.
In other Target news, insider Stephanie A. Lundquist sold 8,367 shares of Target stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total transaction of $736,379.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.28, for a total value of $143,781.48. Following the completion of the transaction, the insider now directly owns 12,836 shares in the company, valued at $1,030,474.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,103 shares of company stock valued at $1,982,750. 0.19% of the stock is owned by corporate insiders.
Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. The firm had revenue of $17.63 billion during the quarter, compared to analyst estimates of $17.49 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 EPS. Sell-side analysts anticipate that Target Co. will post 5.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $0.66 dividend. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 3.01%. Target’s dividend payout ratio is presently 47.50%.
Several equities analysts have issued reports on TGT shares. Evercore ISI assumed coverage on shares of Target in a report on Wednesday, March 20th. They set an “in-line” rating and a $80.00 price objective on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $92.00 target price (up previously from $88.00) on shares of Target in a research report on Thursday, April 18th. Gordon Haskett upgraded Target from an “accumulate” rating to a “buy” rating in a research note on Thursday, March 21st. UBS Group raised their target price on Target from $77.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. Finally, Barclays upgraded shares of Target from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $115.00 in a research note on Monday, April 29th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $89.33.
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Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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