Freestone Capital Holdings LLC Lowers Holdings in Target Corporation (TGT)
Freestone Capital Holdings LLC trimmed its stake in Target Corporation (NYSE:TGT) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,380 shares of the retailer’s stock after selling 147 shares during the period. Freestone Capital Holdings LLC’s holdings in Target Corporation were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in TGT. BlackRock Inc. boosted its position in Target Corporation by 2,069.0% in the 1st quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Target Corporation by 14.2% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock valued at $568,896,000 after buying an additional 1,279,077 shares during the period. Prudential Financial Inc. boosted its position in Target Corporation by 43.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,778,242 shares of the retailer’s stock valued at $197,565,000 after buying an additional 1,143,598 shares during the period. Bank of New York Mellon Corp boosted its position in Target Corporation by 11.6% in the 1st quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock valued at $527,380,000 after buying an additional 996,689 shares during the period. Finally, Smead Capital Management Inc. purchased a new stake in Target Corporation in the 2nd quarter valued at about $41,667,000. 83.22% of the stock is owned by institutional investors.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’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 transaction of $277,792.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert M. Harrison sold 2,639 shares of the firm’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 disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Several research firms have issued reports on TGT. BMO Capital Markets reissued a “market weight” rating on shares of Target Corporation in a research report on Thursday, September 14th. Jefferies Group LLC reissued a “hold” rating on shares of Target Corporation in a research report on Friday, August 25th. Zacks Investment Research cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. Stifel Nicolaus reissued a “hold” rating and issued a $60.00 price objective (up from $58.00) on shares of Target Corporation in a research report on Friday, August 18th. Finally, Vetr cut shares of Target Corporation from a “buy” rating to a “hold” rating and set a $57.89 price objective for the company. in a research report on Thursday, August 17th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.64.
Target Corporation (NYSE:TGT) opened at 58.99 on Monday. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The firm’s 50-day moving average is $56.82 and its 200-day moving average is $55.00. The firm has a market cap of $32.22 billion, a price-to-earnings ratio of 11.92 and a beta of 0.60.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter 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. On average, equities analysts anticipate that Target Corporation will post $4.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.20%. Target Corporation’s payout ratio is currently 50.00%.
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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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