Target Corporation (NYSE:TGT) Stake Decreased by Notis McConarty Edward
Notis McConarty Edward lowered its stake in Target Corporation (NYSE:TGT) by 44.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,595 shares of the retailer’s stock after selling 3,750 shares during the period. Notis McConarty Edward’s holdings in Target Corporation were worth $254,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after buying an additional 44,877,391 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock worth $568,896,000 after buying an additional 1,279,077 shares during the period. Bank of New York Mellon Corp increased its stake in Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares during the period. Morgan Stanley increased its stake in Target Corporation by 1.6% in the first quarter. Morgan Stanley now owns 6,716,718 shares of the retailer’s stock worth $370,696,000 after buying an additional 107,163 shares during the period. Finally, Geode Capital Management LLC increased its stake in Target Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 6,035,990 shares of the retailer’s stock worth $332,703,000 after buying an additional 494,836 shares during the period. Institutional investors and hedge funds own 82.63% of the company’s stock.
Shares of Target Corporation (NYSE TGT) traded down 3.65% during trading on Thursday, reaching $55.76. The company had a trading volume of 4,032,401 shares. The stock has a 50 day moving average price of $53.83 and a 200 day moving average price of $56.54. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The firm has a market capitalization of $30.76 billion, a PE ratio of 11.43 and a beta of 0.61. Target Corporation also saw unusually large options trading on Tuesday. Stock investors bought 43,644 call options on the stock. This is an increase of 350% compared to the average volume of 9,688 call options.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. The business had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. Target Corporation’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 earnings per share. On average, equities research analysts forecast that Target Corporation will post $4.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.29%. Target Corporation’s payout ratio is currently 48.98%.
A number of analysts recently issued reports on TGT shares. BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday. Buckingham Research reissued a “buy” rating and set a $71.00 target price on shares of Target Corporation in a research report on Wednesday, April 19th. Vetr downgraded shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price for the company. in a research report on Monday. Zacks Investment Research raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Gordon Haskett started coverage on shares of Target Corporation in a research report on Tuesday, May 9th. They set a “sell” rating and a $47.00 target price for the company. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Target Corporation currently has an average rating of “Hold” and a consensus target price of $61.99.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’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 transaction of $137,359.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.
Target Corporation 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.
Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT).
Receive News & Ratings for Target Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.