Target Corporation (TGT) Shares Bought by Smead Capital Management Inc.
Smead Capital Management Inc. raised its holdings in Target Corporation (NYSE:TGT) by 70.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,358,242 shares of the retailer’s stock after purchasing an additional 561,396 shares during the quarter. Target Corporation accounts for 3.8% of Smead Capital Management Inc.’s holdings, making the stock its 12th largest holding. Smead Capital Management Inc. owned 0.25% of Target Corporation worth $80,150,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Carnick & Kubik Group LLC acquired a new stake in shares of Target Corporation in the third quarter valued at $554,000. CAPROCK Group Inc. acquired a new stake in shares of Target Corporation in the third quarter valued at $832,000. Boston Private Wealth LLC grew its stake in shares of Target Corporation by 4.5% in the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock valued at $2,795,000 after buying an additional 2,285 shares in the last quarter. Conning Inc. grew its stake in shares of Target Corporation by 2.1% in the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock valued at $27,323,000 after buying an additional 10,966 shares in the last quarter. Finally, Patten & Patten Inc. TN acquired a new stake in shares of Target Corporation in the second quarter valued at $234,000. Institutional investors own 83.51% of the company’s stock.
Target Corporation (NYSE TGT) traded up $1.50 during trading on Monday, hitting $61.40. The stock had a trading volume of 6,854,500 shares, compared to its average volume of 7,169,104. Target Corporation has a fifty-two week low of $48.56 and a fifty-two week high of $79.33. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.26. The stock has a market cap of $33,540.00, a P/E ratio of 12.45, a P/E/G ratio of 2.90 and a beta of 0.63.
Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. sell-side analysts forecast that Target Corporation will post 4.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio is presently 50.10%.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.
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TGT has been the subject of a number of research reports. TheStreet raised Target Corporation from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. MKM Partners lifted their price objective on Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 target price for the company in a research note on Monday, August 14th. BidaskClub raised Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Finally, Zacks Investment Research raised Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $63.68.
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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