Linscomb & Williams Inc. Increases Position in Target Co. (TGT)
Linscomb & Williams Inc. increased its stake in Target Co. (NYSE:TGT) by 15.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,786 shares of the retailer’s stock after buying an additional 512 shares during the period. Linscomb & Williams Inc.’s holdings in Target were worth $209,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TGT. Columbia Asset Management boosted its position in Target by 3.8% in the third quarter. Columbia Asset Management now owns 29,498 shares of the retailer’s stock valued at $2,026,000 after buying an additional 1,077 shares during the period. Quantitative Investment Management LLC acquired a new stake in Target during the third quarter worth approximately $14,999,000. First Trust Advisors LP raised its stake in Target by 13.1% in the third quarter. First Trust Advisors LP now owns 703,208 shares of the retailer’s stock worth $48,296,000 after buying an additional 81,604 shares in the last quarter. San Francisco Sentry Investment Group CA raised its stake in Target by 0.9% in the third quarter. San Francisco Sentry Investment Group CA now owns 9,073 shares of the retailer’s stock worth $623,000 after buying an additional 83 shares in the last quarter. Finally, Boys Arnold & Co. Inc. raised its stake in Target by 8.8% in the third quarter. Boys Arnold & Co. Inc. now owns 6,173 shares of the retailer’s stock worth $424,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
Shares of Target Co. (NYSE:TGT) opened at 54.49 on Wednesday. Target Co. has a 12 month low of $52.72 and a 12 month high of $79.33. The firm’s 50-day moving average is $55.20 and its 200 day moving average is $64.00. The company has a market capitalization of $30.06 billion, a PE ratio of 11.17 and a beta of 0.63.
Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. Target had a net margin of 4.75% and a return on equity of 25.18%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. Equities research analysts predict that Target Co. will post $4.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Monday, May 15th. Target’s dividend payout ratio is currently 42.93%.
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A number of research firms have commented on TGT. Susquehanna Bancshares Inc began coverage on shares of Target in a report on Friday, February 10th. They set a “neutral” rating and a $70.00 target price for the company. TheStreet lowered shares of Target from a “b-” rating to a “c+” rating in a report on Monday, March 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 target price (up previously from $56.00) on shares of Target in a report on Friday, May 19th. Telsey Advisory Group lifted their target price on shares of Target from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Thursday, May 18th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $59.00 target price (up previously from $55.00) on shares of Target in a report on Friday, May 19th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. Target has a consensus rating of “Hold” and a consensus price target of $65.49.
In other Target news, Director Donald R. Knauss acquired 10,000 shares of Target stock in a transaction dated Thursday, March 9th. The stock was purchased at an average cost of $54.86 per share, for a total transaction of $548,600.00. Following the completion of the acquisition, the director now directly owns 16,431 shares of the company’s stock, valued at $901,404.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Don H. Liu acquired 2,000 shares of Target stock in a transaction dated Thursday, March 2nd. The shares were acquired at an average price of $58.20 per share, with a total value of $116,400.00. The disclosure for this purchase can be found here. Insiders have bought 19,000 shares of company stock valued at $1,073,750 over the last quarter. Corporate insiders own 0.25% of the company’s stock.
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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