Target Co. (TGT) Stake Lessened by Magnetar Financial LLC
Magnetar Financial LLC trimmed its position in shares of Target Co. (NYSE:TGT) by 70.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,498 shares of the retailer’s stock after selling 20,093 shares during the quarter. Magnetar Financial LLC’s holdings in Target were worth $501,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Bedell Frazier Investment Counseling LLC acquired a new position in shares of Target during the third quarter worth about $219,000. SevenBridge Financial Group LLC increased its stake in shares of Target by 2,200.0% during the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after acquiring an additional 1,826 shares during the period. Parallel Advisors LLC increased its stake in shares of Target by 23.8% during the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after acquiring an additional 399 shares during the period. Jacobi Capital Management LLC increased its stake in shares of Target by 109.8% during the third quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock worth $141,000 after acquiring an additional 1,310 shares during the period. Finally, Cable Hill Partners LLC increased its stake in shares of Target by 848.8% during the third quarter. Cable Hill Partners LLC now owns 2,666 shares of the retailer’s stock worth $157,000 after acquiring an additional 2,385 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Barclays set a $45.00 price target on shares of Target and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Stifel Nicolaus dropped their price target on shares of Target from $65.00 to $62.00 and set a “hold” rating on the stock in a research note on Thursday, November 16th. Vetr lowered shares of Target from a “buy” rating to a “hold” rating and set a $57.89 target price on the stock. in a research report on Thursday, August 17th. MKM Partners upped their target price on shares of Target from $58.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Tuesday, October 10th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $63.25.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were 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 SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.
Target Co. (NYSE TGT) traded up $1.65 during mid-day trading on Thursday, hitting $62.67. 7,998,100 shares of the stock traded hands, compared to its average volume of 7,380,806. The firm has a market capitalization of $33,163.37, a price-to-earnings ratio of 12.71, a PEG ratio of 7.54 and a beta of 0.64. Target Co. has a twelve month low of $48.56 and a twelve month high of $78.37. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 earnings per share. sell-side analysts expect that Target Co. will post 4.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th were given a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.96%. Target’s dividend payout ratio is presently 51.88%.
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.
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with Analyst Ratings Network's FREE daily email newsletter.