Global X Management Co LLC Grows Position in Target Co. (TGT)
Global X Management Co LLC increased its position in shares of Target Co. (NYSE:TGT) by 64.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,885 shares of the retailer’s stock after buying an additional 5,846 shares during the quarter. Global X Management Co LLC’s holdings in Target were worth $1,133,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC lifted its position in Target by 739.5% during the 2nd quarter. Sun Life Financial INC now owns 1,444 shares of the retailer’s stock worth $110,000 after acquiring an additional 1,272 shares during the period. CSat Investment Advisory L.P. acquired a new stake in Target during the 2nd quarter worth approximately $114,000. Duncker Streett & Co. Inc. lifted its position in Target by 1,435.0% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,535 shares of the retailer’s stock worth $117,000 after acquiring an additional 1,435 shares during the period. Stelac Advisory Services LLC acquired a new stake in Target during the 1st quarter worth approximately $128,000. Finally, Squar Milner Financial Services LLC acquired a new stake in Target during the 2nd quarter worth approximately $129,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.
A number of research firms have weighed in on TGT. BMO Capital Markets began coverage on Target in a research report on Monday, September 17th. They set a “market perform” rating and a $88.00 price objective for the company. Citigroup increased their price objective on Target from $76.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, August 27th. Deutsche Bank set a $90.00 price objective on Target and gave the stock a “hold” rating in a research report on Saturday, August 25th. Credit Suisse Group set a $86.00 price objective on Target and gave the stock a “hold” rating in a research report on Saturday, August 25th. Finally, Wolfe Research cut Target from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Target has a consensus rating of “Hold” and a consensus target price of $87.68.
Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.07. The firm had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. Target’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. research analysts forecast that Target Co. will post 5.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be issued a dividend of $0.64 per share. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 annualized dividend and a yield of 2.93%. Target’s dividend payout ratio is presently 54.35%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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