Norinchukin Bank The Increases Stake in Target Corporation (TGT)
Norinchukin Bank The lifted its holdings in shares of Target Corporation (NYSE:TGT) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,009 shares of the retailer’s stock after acquiring an additional 9,201 shares during the period. Norinchukin Bank The’s holdings in Target Corporation were worth $5,229,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in TGT. Wrapmanager Inc. grew its position in shares of Target Corporation by 8.2% during the first quarter. Wrapmanager Inc. now owns 5,189 shares of the retailer’s stock worth $286,000 after acquiring an additional 392 shares during the last quarter. WealthTrust Fairport LLC grew its position in shares of Target Corporation by 0.9% during the first quarter. WealthTrust Fairport LLC now owns 5,958 shares of the retailer’s stock worth $329,000 after acquiring an additional 55 shares during the last quarter. First Trust Advisors LP grew its position in shares of Target Corporation by 33.8% during the first quarter. First Trust Advisors LP now owns 804,427 shares of the retailer’s stock worth $44,396,000 after acquiring an additional 203,248 shares during the last quarter. Greatmark Investment Partners Inc. grew its position in shares of Target Corporation by 4.8% during the first quarter. Greatmark Investment Partners Inc. now owns 98,899 shares of the retailer’s stock worth $5,458,000 after acquiring an additional 4,570 shares during the last quarter. Finally, FTB Advisors Inc. grew its position in shares of Target Corporation by 10.6% during the first quarter. FTB Advisors Inc. now owns 98,281 shares of the retailer’s stock worth $5,438,000 after acquiring an additional 9,427 shares during the last quarter. Institutional investors and hedge funds own 83.22% of the company’s stock.
In other news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this link. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction dated 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. Corporate insiders own 0.25% of the company’s stock.
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Shares of Target Corporation (NYSE:TGT) opened at 59.01 on Friday. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The stock’s 50 day moving average price is $56.82 and its 200-day moving average price is $55.00. The stock has a market cap of $32.23 billion, a PE ratio of 11.92 and a beta of 0.60.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The company had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same period in the prior year, the firm posted $1.23 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts predict that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s payout ratio is currently 50.00%.
A number of equities analysts have recently issued reports on the stock. UBS AG restated a “neutral” rating and set a $56.00 target price (down from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.66 target price on the stock. in a research report on Monday, June 12th. BMO Capital Markets restated a “market perform” rating and set a $67.00 target price (up from $62.00) on shares of Target Corporation in a research report on Friday, August 18th. Stifel Nicolaus restated a “hold” rating and set a $60.00 target price (up from $58.00) on shares of Target Corporation in a research report on Friday, August 18th. Finally, Citigroup Inc. lowered shares of Target Corporation from a “buy” rating to a “neutral” rating and raised their target price for the stock from $51.00 to $56.00 in a research report on Wednesday, June 21st. Five equities research 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. The company currently has a consensus rating of “Hold” and a consensus target price of $61.64.
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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