Target Corporation (TGT) Shares Bought by Synovus Financial Corp
Synovus Financial Corp lifted its holdings in shares of Target Corporation (NYSE:TGT) by 28.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,307 shares of the retailer’s stock after buying an additional 4,923 shares during the quarter. Synovus Financial Corp’s holdings in Target Corporation were worth $1,170,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of Target Corporation by 23.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after buying an additional 399 shares during the period. Penserra Capital Management LLC raised its stake in shares of Target Corporation by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares during the period. Davidson Investment Advisors raised its stake in shares of Target Corporation by 18.5% during the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after buying an additional 400 shares during the period. Kistler Tiffany Companies LLC raised its stake in shares of Target Corporation by 19.1% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after buying an additional 445 shares during the period. Finally, Washington Trust Bank raised its stake in shares of Target Corporation by 105.6% during the 2nd quarter. Washington Trust Bank now owns 3,067 shares of the retailer’s stock worth $160,000 after buying an additional 1,575 shares during the period. 83.22% of the stock is owned by institutional investors and hedge funds.
Target Corporation (TGT) opened at 58.99 on Friday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The firm has a market cap of $32.22 billion, a price-to-earnings ratio of 11.92 and a beta of 0.60. The company’s 50-day moving average price is $56.82 and its 200 day moving average price is $55.00.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating the Zacks’ 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 revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, equities analysts expect that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio is currently 50.00%.
Several research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed a “market weight” rating on shares of Target Corporation in a research note on Thursday, September 14th. Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price target for the company. in a research report on Monday, August 7th. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. MKM Partners boosted their price target on Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.64.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction dated 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 is accessible through the SEC website. Also, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
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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