Old Port Advisors Takes $1.33 Million Position in Target Co. (TGT)
Old Port Advisors bought a new stake in shares of Target Co. (NYSE:TGT) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,454 shares of the retailer’s stock, valued at approximately $1,329,000.
Several other institutional investors have also made changes to their positions in TGT. Eagle Asset Management Inc. raised its holdings in shares of Target by 31.1% during the first quarter. Eagle Asset Management Inc. now owns 7,521 shares of the retailer’s stock valued at $522,000 after acquiring an additional 1,786 shares in the last quarter. WBI Investments Inc. raised its holdings in shares of Target by 10.6% during the first quarter. WBI Investments Inc. now owns 10,668 shares of the retailer’s stock valued at $741,000 after acquiring an additional 1,024 shares in the last quarter. Brinker Capital Inc. raised its holdings in shares of Target by 28.0% during the first quarter. Brinker Capital Inc. now owns 29,932 shares of the retailer’s stock valued at $2,078,000 after acquiring an additional 6,542 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of Target by 7.4% during the first quarter. Natixis Advisors L.P. now owns 55,192 shares of the retailer’s stock valued at $3,832,000 after acquiring an additional 3,812 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new position in shares of Target during the first quarter valued at approximately $290,000. Institutional investors own 83.46% of the company’s stock.
A number of equities analysts recently commented on TGT shares. Citigroup upped their target price on Target from $76.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 27th. Bank of America set a $90.00 target price on Target and gave the company a “buy” rating in a report on Wednesday, August 22nd. Wolfe Research downgraded Target from an “outperform” rating to a “market perform” rating in a report on Thursday, August 23rd. Robert W. Baird increased their price objective on Target from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, August 23rd. Finally, Credit Suisse Group set a $86.00 price objective on Target and gave the stock a “hold” rating in a report on Saturday, August 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Target has an average rating of “Hold” and an average price target of $87.68.
Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.07. Target had a return on equity of 24.29% and a net margin of 4.19%. The business had revenue of $17.78 billion during the quarter, compared to the consensus estimate of $17.33 billion. During the same quarter in the prior year, the company earned $1.23 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. analysts predict that Target Co. will post 5.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be paid a $0.64 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.93%. Target’s dividend payout ratio is currently 54.35%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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