Manchester Capital Management LLC Holds Position in Target Corporation (TGT)
Manchester Capital Management LLC maintained its stake in shares of Target Corporation (NYSE:TGT) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,516 shares of the retailer’s stock at the end of the second quarter. Manchester Capital Management LLC’s holdings in Target Corporation were worth $132,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of TGT. Parallel Advisors LLC boosted its holdings in shares of Target Corporation by 23.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after purchasing an additional 399 shares during the last quarter. Penserra Capital Management LLC boosted its holdings 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 boosted its holdings 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 boosted its holdings 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 boosted its holdings 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. Institutional investors and hedge funds own 83.22% of the company’s stock.
Target Corporation (NYSE:TGT) opened at 58.99 on Friday. The firm has a 50 day moving average of $56.82 and a 200 day moving average of $55.00. The firm has a market cap of $32.22 billion, a P/E ratio of 11.92 and a beta of 0.60. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same quarter last year, the firm posted $1.23 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that Target Corporation will post $4.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio is presently 50.00%.
Several research analysts have recently weighed in on the company. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price on the stock in a report on Monday, June 19th. ValuEngine lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target on shares of Target Corporation in a research report on Friday, July 14th. Finally, MKM Partners lifted their price target on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company. Target Corporation presently has a consensus rating of “Hold” and an average target price of $61.64.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were 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. Company insiders own 0.25% of the company’s stock.
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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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