Target Corporation (TGT) Shares Sold by Mandatum Life Insurance Co Ltd
Mandatum Life Insurance Co Ltd decreased its stake in shares of Target Corporation (NYSE:TGT) by 23.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,053 shares of the retailer’s stock after selling 2,515 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in Target Corporation were worth $475,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of 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 acquiring an additional 44,877,391 shares in the last quarter. Dodge & Cox increased its position in shares of Target Corporation by 83.3% in the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after acquiring an additional 9,102,526 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of Target Corporation in the second quarter worth $235,305,000. Franklin Resources Inc. increased its position in shares of Target Corporation by 8.7% in the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after acquiring an additional 1,686,774 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Target Corporation by 45.1% in the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock worth $309,101,000 after acquiring an additional 1,629,222 shares in the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.
Target Corporation (TGT) traded up $0.24 during trading on Thursday, reaching $57.49. 2,867,600 shares of the company’s stock traded hands, compared to its average volume of 7,340,382. The firm has a market cap of $31,119.54, a PE ratio of 11.93, a price-to-earnings-growth ratio of 7.08 and a beta of 0.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target Corporation had a net margin of 3.80% and a return on equity of 24.09%. Target Corporation’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.04 EPS. equities research analysts anticipate that Target Corporation will post 4.54 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.31%. Target Corporation’s payout ratio is 51.88%.
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In other 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 value of $277,792.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.
TGT has been the subject of a number of recent analyst reports. TheStreet raised shares of Target Corporation from a “c+” rating to a “b” rating in a report on Thursday, September 28th. MKM Partners raised their price target on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday, October 10th. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 price target for the company in a report on Monday, August 14th. Finally, BMO Capital Markets reaffirmed a “market weight” rating on shares of Target Corporation in a report on Thursday, September 14th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $63.17.
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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