Washington Capital Management Inc. Takes Position in Target Co. (TGT)
Washington Capital Management Inc. purchased a new position in Target Co. (NYSE:TGT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 26,680 shares of the retailer’s stock, valued at approximately $1,574,000. Target comprises about 1.7% of Washington Capital Management Inc.’s holdings, making the stock its 23rd biggest position.
Several other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in shares of Target by 1.5% in the 2nd quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock worth $2,716,176,000 after buying an additional 775,265 shares during the last quarter. BlackRock Inc. lifted its position in shares of Target by 2,069.0% in the 1st quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after buying an additional 44,877,391 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Target by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock worth $1,942,803,000 after buying an additional 130,252 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Target by 8.7% in the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after buying an additional 1,686,774 shares during the last quarter. Finally, Dodge & Cox lifted its position in shares of Target by 83.3% in the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after buying an additional 9,102,526 shares during the last quarter. Institutional investors own 83.60% of the company’s stock.
A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Stifel Nicolaus restated a “hold” rating and issued a $60.00 price target (up from $58.00) on shares of Target in a research report on Friday, August 18th. Vetr downgraded shares of Target from a “buy” rating to a “hold” rating and set a $59.67 price target on the stock. in a research report on Monday, August 7th. Gordon Haskett upgraded shares of Target from a “sell” rating to a “hold” rating and raised their price target for the stock from $47.00 to $58.00 in a research report on Wednesday, August 16th. Finally, TheStreet upgraded shares of Target from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $63.17.
Shares of Target Co. (NYSE:TGT) traded down $1.61 on Friday, hitting $55.88. 5,890,000 shares of the stock traded hands, compared to its average volume of 8,026,935. The firm has a market cap of $30,374.86, a PE ratio of 11.64, a P/E/G ratio of 6.91 and a beta of 0.63. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. Target Co. has a 12 month low of $48.56 and a 12 month high of $79.33.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. equities research analysts forecast that Target Co. will post 4.54 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 paid a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.44%. Target’s dividend payout ratio is currently 51.88%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target 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. Insiders own 0.25% of the company’s stock.
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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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