Ameritas Investment Partners Inc. reduced its stake in Target Corporation (NYSE:TGT) by 68.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,477 shares of the retailer’s stock after selling 31,393 shares during the period. Ameritas Investment Partners Inc.’s holdings in Target Corporation were worth $798,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of TGT. Welch & Forbes LLC boosted its stake in Target Corporation by 0.3% in the first quarter. Welch & Forbes LLC now owns 8,150 shares of the retailer’s stock valued at $450,000 after buying an additional 24 shares in the last quarter. Compton Capital Management Inc. RI boosted its stake in Target Corporation by 0.4% in the first quarter. Compton Capital Management Inc. RI now owns 8,824 shares of the retailer’s stock valued at $487,000 after buying an additional 32 shares in the last quarter. TRUE Private Wealth Advisors boosted its stake in Target Corporation by 0.9% in the first quarter. TRUE Private Wealth Advisors now owns 4,488 shares of the retailer’s stock valued at $238,000 after buying an additional 38 shares in the last quarter. WealthTrust Fairport LLC boosted its stake in Target Corporation by 0.9% in the first quarter. WealthTrust Fairport LLC now owns 5,958 shares of the retailer’s stock valued at $329,000 after buying an additional 55 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Target Corporation by 0.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 14,231 shares of the retailer’s stock valued at $734,000 after buying an additional 94 shares in the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.
Target Corporation (NYSE TGT) traded up 0.11% during trading on Friday, hitting $56.11. 5,371,968 shares of the stock traded hands. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The stock has a 50 day moving average price of $53.29 and a 200-day moving average price of $57.20. The stock has a market cap of $30.96 billion, a P/E ratio of 11.50 and a beta of 0.60.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm had revenue of $16.02 billion for the quarter, compared to analyst estimates of $15.63 billion. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, analysts anticipate that Target Corporation will post $4.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.42%. Target Corporation’s dividend payout ratio (DPR) is 48.98%.
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A number of brokerages recently issued reports on TGT. Vetr cut shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.66 price target for the company. in a research report on Monday, June 12th. UBS AG reissued a “neutral” rating and set a $56.00 price target (down from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. Jefferies Group LLC reissued a “hold” rating and set a $59.00 price target (up from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Citigroup Inc. cut shares of Target Corporation from a “buy” rating to a “neutral” rating and lifted their price target for the company from $51.00 to $56.00 in a research report on Wednesday, June 21st. Finally, BMO Capital Markets raised their price objective on shares of Target Corporation from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Friday, July 14th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. Target Corporation presently has an average rating of “Hold” and an average price target of $62.94.
In other news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.
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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