Target Co. (TGT) Stake Increased by SevenBridge Financial Group LLC
SevenBridge Financial Group LLC boosted its holdings in Target Co. (NYSE:TGT) by 2,200.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,909 shares of the retailer’s stock after purchasing an additional 1,826 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Target were worth $113,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in TGT. Dodge & Cox raised its position in Target by 83.3% in the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after purchasing an additional 9,102,526 shares during the last quarter. Capital Research Global Investors purchased a new stake in Target in the 2nd quarter valued at $235,305,000. Franklin Resources Inc. raised its position in Target by 8.7% during the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after buying an additional 1,686,774 shares during the last quarter. American Century Companies Inc. raised its position in Target by 45.1% during the 3rd quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock worth $309,101,000 after buying an additional 1,629,222 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Target by 43.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,778,242 shares of the retailer’s stock worth $197,565,000 after buying an additional 1,143,598 shares during the last quarter. Hedge funds and other institutional investors own 87.41% of the company’s stock.
A number of equities analysts have commented on TGT shares. BidaskClub upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Vetr downgraded shares of Target from a “buy” rating to a “hold” rating and set a $59.67 price objective for the company. in a research report on Monday, August 7th. Moffett Nathanson started coverage on shares of Target in a research report on Monday. They set a “neutral” rating for the company. Zacks Investment Research downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. Finally, BMO Capital Markets restated a “market weight” rating on shares of Target in a research report on Thursday, September 14th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. Target currently has a consensus rating of “Hold” and a consensus price target of $63.25.
In related news, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.
Shares of Target Co. (NYSE TGT) traded down $0.39 during midday trading on Monday, reaching $59.51. 8,317,900 shares of the company were exchanged, compared to its average volume of 7,420,128. The firm has a market cap of $32,348.01, a PE ratio of 12.40, a price-to-earnings-growth ratio of 7.36 and a beta of 0.64. Target Co. has a 12-month low of $48.56 and a 12-month 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 issued its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 EPS. analysts predict that Target Co. will post 4.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be paid 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 4.17%. Target’s payout ratio is 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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