Green Square Capital LLC Has $4.01 Million Position in Target Corporation (NYSE:TGT)
Green Square Capital LLC increased its position in shares of Target Corporation (NYSE:TGT) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,614 shares of the retailer’s stock after buying an additional 7,551 shares during the period. Green Square Capital LLC’s holdings in Target Corporation were worth $4,008,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FNY Partners Fund LP bought a new position in Target Corporation during the first quarter worth about $275,000. Bragg Financial Advisors Inc raised its position in Target Corporation by 14.9% in the first quarter. Bragg Financial Advisors Inc now owns 29,162 shares of the retailer’s stock worth $1,068,000 after buying an additional 3,785 shares in the last quarter. First Financial Equity Corporation bought a new position in Target Corporation during the first quarter worth about $910,000. Archford Capital Strategies LLC raised its position in Target Corporation by 14.2% in the first quarter. Archford Capital Strategies LLC now owns 27,095 shares of the retailer’s stock worth $1,463,000 after buying an additional 3,375 shares in the last quarter. Finally, Private Advisory Group LLC raised its position in Target Corporation by 27.2% in the first quarter. Private Advisory Group LLC now owns 13,566 shares of the retailer’s stock worth $749,000 after buying an additional 2,897 shares in the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.
Shares of Target Corporation (TGT) traded up 0.02% during mid-day trading on Friday, reaching $55.65. The company had a trading volume of 6,022,770 shares. The firm’s 50-day moving average is $54.12 and its 200 day moving average is $56.47. The company has a market capitalization of $30.70 billion, a price-to-earnings ratio of 11.40 and a beta of 0.61. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. Target Corporation also was the target of unusually large options trading on Wednesday. Traders bought 13,826 put options on the company. This represents an increase of approximately 188% compared to the typical volume of 4,793 put options.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The company had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that Target Corporation will post $4.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th 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 4.46%. The ex-dividend date of this dividend is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is currently 48.98%.
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A number of research firms recently issued reports on TGT. BidaskClub lowered Target Corporation from a “buy” rating to a “hold” rating in a research report on Saturday. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 price objective for the company in a research report on Monday. Cowen and Company restated a “market perform” rating and set a $64.00 price objective on shares of Target Corporation in a research report on Friday, July 14th. BMO Capital Markets boosted their price objective on Target Corporation from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Friday, July 14th. Finally, Robert W. Baird restated a “neutral” rating and set a $55.00 price objective on shares of Target Corporation in a research report on Friday, July 14th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.99.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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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