Target Corporation (TGT) Holdings Cut by Northern Trust Corp
Northern Trust Corp trimmed its position in Target Corporation (NYSE:TGT) by 4.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,616,787 shares of the retailer’s stock after selling 380,396 shares during the period. Northern Trust Corp owned about 1.38% of Target Corporation worth $398,282,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of TGT. Parallel Advisors LLC grew its position in Target Corporation by 23.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after purchasing an additional 399 shares in the last quarter. Penserra Capital Management LLC grew its position in Target Corporation by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after purchasing an additional 204 shares in the last quarter. Davidson Investment Advisors grew its position in Target Corporation by 18.5% in the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after purchasing an additional 400 shares in the last quarter. Kistler Tiffany Companies LLC grew its position in Target Corporation by 19.1% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after purchasing an additional 445 shares in the last quarter. Finally, Sandy Spring Bank grew its position in Target Corporation by 6.7% in the 2nd quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock worth $155,000 after purchasing an additional 185 shares in the last quarter. 83.22% of the stock is owned by institutional investors and hedge funds.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by insiders.
TGT has been the subject of a number of recent analyst reports. BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Vetr downgraded shares of Target Corporation 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. Zacks Investment Research downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. Jefferies Group LLC reaffirmed a “hold” rating on shares of Target Corporation in a research report on Friday, August 25th. Finally, BMO Capital Markets reaffirmed a “market weight” rating on shares of Target Corporation in a research report on Thursday, September 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. Target Corporation currently has a consensus rating of “Hold” and a consensus price target of $61.62.
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Shares of Target Corporation (TGT) opened at 58.66 on Thursday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The firm has a 50-day moving average of $57.46 and a 200 day moving average of $55.30. The stock has a market capitalization of $32.04 billion, a PE ratio of 11.85 and a beta of 0.62. Target Corporation also was the target of some unusual options trading activity on Monday. Stock investors acquired 10,752 put options on the stock. This is an increase of approximately 126% compared to the average volume of 4,756 put options.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts predict that Target Corporation will post $4.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.23%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio is currently 50.00%.
Target Corporation 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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