Nationwide Fund Advisors Sells 10,220 Shares of Target Co. (TGT)
Nationwide Fund Advisors trimmed its position in shares of Target Co. (NYSE:TGT) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 251,382 shares of the retailer’s stock after selling 10,220 shares during the quarter. Nationwide Fund Advisors’ holdings in Target were worth $14,834,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Target during the third quarter valued at about $325,000. RDL Financial Inc. acquired a new position in shares of Target in the third quarter worth approximately $1,146,000. CAPROCK Group Inc. acquired a new position in shares of Target in the third quarter worth approximately $832,000. Strs Ohio lifted its stake in shares of Target by 0.5% in the third quarter. Strs Ohio now owns 454,636 shares of the retailer’s stock worth $26,828,000 after acquiring an additional 2,129 shares during the period. Finally, Whittier Trust Co. lifted its stake in shares of Target by 3.1% in the third quarter. Whittier Trust Co. now owns 41,857 shares of the retailer’s stock worth $2,470,000 after acquiring an additional 1,275 shares during the period. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
TGT has been the topic of a number of recent analyst reports. BidaskClub raised Target from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Vetr lowered Target from a “buy” rating to a “hold” rating and set a $59.67 price objective on the stock. in a research note on Monday, August 7th. MKM Partners reaffirmed a “neutral” rating on shares of Target in a research note on Tuesday, August 15th. Gordon Haskett raised Target from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $47.00 to $58.00 in a research note on Wednesday, August 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $67.00 price objective (up from $62.00) on shares of Target in a research note on Friday, August 18th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $63.25.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.
Target Co. (NYSE:TGT) traded down $0.39 during midday trading on Friday, hitting $59.51. The stock had a trading volume of 8,317,171 shares, compared to its average volume of 9,283,936. The company has a market capitalization of $32,560.01, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 7.41 and a beta of 0.64. Target Co. has a 52-week low of $48.56 and a 52-week high of $78.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 earnings per share. equities analysts expect that Target Co. will post 4.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.17%. Target’s dividend payout ratio is 51.88%.
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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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