Oppenheimer & Co. Inc. Buys 6,368 Shares of Target Co. (TGT)
Oppenheimer & Co. Inc. lifted its stake in Target Co. (NYSE:TGT) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,967 shares of the retailer’s stock after purchasing an additional 6,368 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Target were worth $3,893,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of TGT. State Street Corp increased its stake in Target by 1.5% during the second quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock worth $2,716,176,000 after acquiring an additional 775,265 shares during the last quarter. BlackRock Inc. increased its stake in Target by 2,069.0% during the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after acquiring an additional 44,877,391 shares during the last quarter. Vanguard Group Inc. increased its stake in Target by 0.4% during the second quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock worth $1,942,803,000 after acquiring an additional 130,252 shares during the last quarter. Franklin Resources Inc. increased its stake in Target by 8.7% during the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after acquiring an additional 1,686,774 shares during the last quarter. Finally, Dodge & Cox increased its stake in Target by 83.3% during the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after acquiring an additional 9,102,526 shares during the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on TGT shares. TheStreet raised Target from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. BidaskClub raised Target from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Vetr raised Target from a “hold” rating to a “buy” rating and set a $59.67 target price for the company in a research note on Monday, August 14th. MKM Partners raised their target price on Target from $58.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research raised Target from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Target presently has a consensus rating of “Hold” and a consensus target price of $63.17.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target stock in a transaction on Friday, September 15th. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.
Shares of Target Co. (NYSE:TGT) traded down $1.61 during midday trading on Friday, hitting $55.88. The stock had a trading volume of 5,891,540 shares, compared to its average volume of 8,026,935. Target Co. has a twelve month low of $48.56 and a twelve month high of $79.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The firm has a market capitalization of $31,249.99, a PE ratio of 11.98, a PEG ratio of 7.11 and a beta of 0.63.
Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The business had revenue of $16.67 billion during the quarter, compared to analysts’ expectations of $16.61 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. analysts expect that Target Co. will post 4.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. Target’s dividend payout ratio (DPR) is presently 51.88%.
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Target Company 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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