KCM Investment Advisors LLC Sells 86,043 Shares of Target Corporation (TGT)
KCM Investment Advisors LLC lessened its stake in shares of Target Corporation (NYSE:TGT) by 87.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,824 shares of the retailer’s stock after selling 86,043 shares during the quarter. KCM Investment Advisors LLC’s holdings in Target Corporation were worth $671,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Parallel Advisors LLC raised its position in shares of Target Corporation by 23.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after acquiring an additional 399 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of Target Corporation by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after purchasing an additional 204 shares during the last quarter. Davidson Investment Advisors lifted its stake in shares of Target Corporation by 18.5% during the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after purchasing an additional 400 shares during the last quarter. Kistler Tiffany Companies LLC lifted its stake in shares of Target Corporation by 19.1% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after purchasing an additional 445 shares during the last quarter. Finally, Washington Trust Bank lifted its stake in shares of Target Corporation by 105.6% during the 2nd quarter. Washington Trust Bank now owns 3,067 shares of the retailer’s stock worth $160,000 after purchasing an additional 1,575 shares during the last quarter. 83.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Target Corporation (NYSE TGT) opened at 59.01 on Monday. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The stock’s 50 day moving average is $56.82 and its 200-day moving average is $55.00. The firm has a market cap of $32.23 billion, a PE ratio of 11.92 and a beta of 0.62.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 EPS. On average, equities analysts predict that Target Corporation will post $4.51 EPS for the current fiscal 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 given a dividend of $0.62 per share. The ex-dividend date of this dividend 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 50.00%.
Several research firms have commented on TGT. BMO Capital Markets reissued a “market weight” rating on shares of Target Corporation in a research report on Thursday, September 14th. Vetr cut shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price target on the stock. in a report on Monday, August 7th. BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Finally, MKM Partners lifted their price objective on shares of Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating 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 assigned a buy rating to the company’s stock. Target Corporation presently has a consensus rating of “Hold” and an average price target of $61.64.
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 value of $137,359.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’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 value of $277,792.23. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
About Target Corporation
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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