UBS Oconnor LLC Has $5.50 Million Stake in Target Corporation (TGT)
UBS Oconnor LLC decreased its position in Target Corporation (NYSE:TGT) by 46.2% during the first quarter, Holdings Channel reports. The firm owned 99,600 shares of the retailer’s stock after selling 85,400 shares during the period. UBS Oconnor LLC’s holdings in Target Corporation were worth $5,497,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Cribstone Capital Management LLC raised its stake in shares of Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the period. Reilly Financial Advisors LLC raised its stake in shares of Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the period. Pinnacle Bank purchased a new stake in shares of Target Corporation during the first quarter worth about $123,000. Peoples Financial Services CORP. raised its stake in shares of Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the period. Finally, Penserra Capital Management LLC raised its stake in shares of Target Corporation by 9.5% in the first 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. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Target Corporation (TGT) traded down 0.79% during midday trading on Tuesday, hitting $55.35. 2,702,978 shares of the stock traded hands. The stock has a market cap of $30.54 billion, a PE ratio of 11.34 and a beta of 0.61. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The company has a 50-day moving average of $54.26 and a 200-day moving average of $56.29.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The firm had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. During the same period in the prior year, the firm earned $1.29 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts expect that Target Corporation will post $4.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be issued a $0.62 dividend. The ex-dividend date is Monday, August 14th. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.45%. Target Corporation’s dividend payout ratio is 48.98%.
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TGT has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Tuesday, June 6th. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 target price on the stock in a research report on Wednesday, May 10th. Buckingham Research restated a “buy” rating and set a $71.00 target price on shares of Target Corporation in a research report on Wednesday, April 19th. Finally, BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the stock. Target Corporation currently has a consensus rating of “Hold” and a consensus price target of $61.99.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate 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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