Target Corporation (NYSE:TGT) Position Decreased by Parkwood LLC
Parkwood LLC cut its stake in shares of Target Corporation (NYSE:TGT) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,060 shares of the retailer’s stock after selling 12,470 shares during the period. Parkwood LLC’s holdings in Target Corporation were worth $2,356,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Welch & Forbes LLC raised its position in shares of Target Corporation by 0.3% in the first quarter. Welch & Forbes LLC now owns 8,150 shares of the retailer’s stock valued at $450,000 after buying an additional 24 shares during the period. Compton Capital Management Inc. RI raised its position in shares of Target Corporation by 0.4% in the first quarter. Compton Capital Management Inc. RI now owns 8,824 shares of the retailer’s stock valued at $487,000 after buying an additional 32 shares during the period. TRUE Private Wealth Advisors raised its position in shares of Target Corporation by 0.9% in the first quarter. TRUE Private Wealth Advisors now owns 4,488 shares of the retailer’s stock valued at $238,000 after buying an additional 38 shares during the period. WealthTrust Fairport LLC raised its position in shares of Target Corporation by 0.9% in the first quarter. WealthTrust Fairport LLC now owns 5,958 shares of the retailer’s stock valued at $329,000 after buying an additional 55 shares during the period. Finally, Carlson Capital Management raised its position in shares of Target Corporation by 0.9% in the second quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock valued at $421,000 after buying an additional 69 shares during the period. 82.63% of the stock is currently owned by institutional investors and hedge funds.
Target Corporation (NYSE:TGT) traded up 0.02% on Friday, hitting $55.65. The stock had a trading volume of 6,022,770 shares. The firm has a market cap of $30.70 billion, a PE ratio of 11.40 and a beta of 0.61. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The company’s 50 day moving average is $54.12 and its 200 day moving average is $56.47. Target Corporation also was the target of unusually large options trading on Wednesday. Stock investors purchased 13,826 put options on the stock. This represents an increase of 188% compared to the typical volume of 4,793 put options.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. On average, equities research analysts expect that Target Corporation will post $4.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.46%. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio is 48.98%.
Several brokerages have recently commented on TGT. Vetr lowered Target Corporation from a “buy” rating to a “hold” rating and set a $59.66 price target on the stock. in a research note on Monday, June 12th. UBS AG reaffirmed a “neutral” rating and issued a $56.00 price target (down previously from $60.00) on shares of Target Corporation in a research note on Tuesday, June 20th. BidaskClub lowered Target Corporation from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 price target (up previously from $56.00) on shares of Target Corporation in a research note on Friday, May 19th. Finally, Citigroup Inc. lowered Target Corporation from a “buy” rating to a “neutral” rating and upped their price target for the company from $51.00 to $56.00 in a research note on Wednesday, June 21st. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company. Target Corporation currently has a consensus rating of “Hold” and a consensus price target of $61.99.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.
About Target Corporation
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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