Target Co. (TGT) Stake Lowered by Access Financial Services Inc.
Access Financial Services Inc. decreased its position in shares of Target Co. (NYSE:TGT) by 19.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,071 shares of the retailer’s stock after selling 4,988 shares during the quarter. Access Financial Services Inc.’s holdings in Target were worth $1,310,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of TGT. Dodge & Cox lifted its holdings in Target by 83.3% during the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after buying an additional 9,102,526 shares in the last quarter. Capital Research Global Investors acquired a new position in Target during the 2nd quarter worth $235,305,000. Franklin Resources Inc. lifted its holdings 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 in the last quarter. American Century Companies Inc. lifted its holdings 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 in the last quarter. Finally, Miller Howard Investments Inc. NY acquired a new position in Target during the 3rd quarter worth $65,948,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Roxanne S. Austin sold 4,705 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.
Target Co. (NYSE TGT) traded down $0.22 during mid-day trading on Tuesday, reaching $76.58. The company’s stock had a trading volume of 4,580,299 shares, compared to its average volume of 10,194,956. The company has a market cap of $41,720.00, a PE ratio of 16.09, a PEG ratio of 4.87 and a beta of 0.63. 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 Co. has a 52-week low of $48.56 and a 52-week high of $77.00.
Target (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion during the quarter, compared to analysts’ expectations of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. equities analysts expect that Target Co. will post 4.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.24%. Target’s dividend payout ratio is 52.10%.
Several research analysts have issued reports on TGT shares. TheStreet raised Target from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Tuesday, October 10th. Robert W. Baird reiterated a “hold” rating and set a $70.00 target price on shares of Target in a research report on Wednesday, January 3rd. MKM Partners set a $77.00 target price on shares of Target and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Morgan Stanley dropped their target price on shares of Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday, November 16th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $66.15.
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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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